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$458 million for Sun Group's new Phu Quoc project

Released at: 11:31, 03/09/2015

$458 million for Sun Group's new Phu Quoc project

Construction now underway, with first phase of resort and amusement project expected to be completed by 2017.

by Tue Lam

On September 4 the Sun Group will officially begin construction of a resort and amusement complex on Hon Thom Island and a cable car line connecting it with Phu Quoc Island, which has been approved by the Kien Giang Provincial People’s Committee.

The project has investment capital of VND10 trillion ($458.4 million) and is divided into two phases. The first phase will have initial investment of VND4.9 trillion ($224.6 million) and is expected to come into being in 2017.

The Sun Group owns two international resort projects on Phu Quoc Island - Marriott and Ritz Carlton - which will open in the near future. 

It will also soon launch several new, large-scale projects around the country, such as Ha Long Ocean Park, with investment capital of VND6 trillion ($276 million), and a cable car to the top of Mt. Fansipan, at a height of 3,143 meters above sea level, near Sapa in northern Lao Cai province.

Hon Thom Island lies approximately 10 km south of Phu Quoc Island’s Khem Beach. The 138-ha beach is also being developed by the Sun Group, with ambitious plans to create a complex of world-class resorts in cooperation with Marriot, Intercontinental, Pullman, and Sofitel.

Sun Group is one of the largest real estate groups in Vietnam and the biggest investor in central Da Nang city, with dozens of projects in hotels, resorts, amusement parks, and urban areas, including the InterContinental Danang Sun Peninsula Resort, the Novotel Danang Premier Han River, the Premier Village Danang Resort, and Ba Na Hills Resort.

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