Nhon Ly resort, villa and luxury entertainment complex expected to be completed by 2018.
The FLC Group has recently been granted an investment certificate for a project to build the Nhon Ly resort, villa and luxury entertainment complex in southern Binh Dinh province.
“Our investment comes after extensive market research,” Mr. Doan Van Phuong, Director Managing of the FLC Group said at the licensing ceremony, adding that the enterprise appreciates the potential growth of tourism in Binh Dinh.
Covering an area of nearly 300 hectares at Quy Nhon city, the project, with total investment of VND3.5 trillion ($162 million), comprises villas, golf courses, a six-star standard resort, a five-star restaurant, an international conference center, an entertainment complex, and other facilities. As planned, construction will begin in May and take three years.
The provincial government has committed to offering favorable conditions to the project’s investor and will order the Management Board and relevant agencies to facilitate investment procedures so the project can proceed on schedule.
2014 marked a transformation for the FLC Group, with it becoming the owner and developer of a number of major real estate projects, including FLC Samson Beach and Golf Resort in northern Thanh Hoa province and three real estate projects it acquired in Hanoi. It successfully raised its charter capital from VND1.543 trillion ($73.5 million) to VND3.15 trillion ($147.6 million), with profit estimated at VND400 billion ($18.7 million) for 2014.