Photo: CEO group
Group now focusing on developments along Truong Beach, to the west of the island.
The CEO Group is now focusing on developments along Truong Beach in the west of the Phu Quoc island, targeting to turn it into a highlight of Vietnam’s tourism and hospitality market.
With three projects on a total area of 300 ha,the local property developer is one of the largest developers on the Island of southern Kien Giang province.
Located near Phu Quoc International Airport and Duong Dong Town, Truong Beach is one of the most beautiful on the island with sand stretching 20 km. Among the 200 projects invested on Phu Quoc around 50 are located on Truong Beach, with a total area of over 1,800 ha.
The CEO Group has invested up to VND3 trillion ($133.7 million) on developing Sonasea Villas & Resort in the center of Truong Beach. Construction has involved dozens of contractors and 1,800 construction workers.
Novotel Phu Quoc Resort, with 400 rooms, was completed after one year of construction and meets all standards and requirements of the Accor Group. The resort was officially opened in January.
The resort is the largest under the Novotel brand on Phu Quoc and within the Accor network in Vietnam. Occupancy has been over 90 per cent since the opening. During holidays such as Lunar New Year or April 30 and May 1 the resort is usually filled to capacity, proving the attractiveness of an international-class resort on Phu Quoc Island.
The first large-scale resort on Truong Beach, Novotel Phu Quoc Resort is part of the Sonasea Villas & Resort real estate complex developed by the CEO Group. With a total area of 80 ha on a 1 km stretch of beach, Sonasea Villas & Resort is one of the two largest hospitality projects with the longest beaches on Truong Beach.
To meet increasing demand for investment in hospitality real estate, the CEO Group will launch 1,000 resort shophouses and villas in the time to come. It also revealed that most shophouses have been purchased.
Villas in Sonasea Villas will be handed over to buyers this year. All are on 270-713 sq m with a private garden and swimming pool. With competitive sales prices offered by the CEO Group, more than half of those launched on the market at the end of 2015 have been purchased. In the center of the villa cluster it is also developing facilities such as a large swimming pool, a promenade, landscaping, a clubhouse, and restaurants, among others.
The CEO Group plans to begin construction of the high-end Sonasea Resodences villas on 62 ha at Truong Beach this year.
It will expand its land area, especially in hospitality, by conducting M&A deals in the time to come and has agreed to become the largest shareholder of a company who owns two projects with a total area of 150 ha on Phu Quoc, Mr. Doan Van Binh, Chairman of CEO Group, told its 2016 annual shareholders meeting.
The CEO Group is also negotiating with a partner to secure an 8 ha project in Nha Trang.
With experience of 15 years in developing real estate projects and strengths in term of land, capacity and brand, the CEO Group is gradually developing a chain of hospitality products under its own brand, contributing to the development of Phu Quoc Island’s tourism and hospitality sector.