Vinpearl to invest $65.1 million in links on capital's outskirts.
The Hanoi People's Committee has submitted a golf course project to the Ministry of Agriculture and Rural Development (MARD) for approval. Owned by the Vinpearl Joint Stock Company, the project is located on the dyke of the Duong River between the capital’s Dong Anh and Long Bien districts.
The 54-hole course has estimated investment capital of VND1.3 trillion ($65.1 million) and if MARD approval is forthcoming construction will start in 2016 and be completed in 2020.
In the first stage, from 2016 to 2017, the investor will build 18 holes and then 36 holes in the second stage. A swimming pool, a gym, and a tennis court are also included in the project.
Despite providing Hanoi’s northeast with a new look the project has triggered much debate because, according to experts, it is located on a flood drainage corridor of the Duong River. Sports grounds, parks, and other entertainment area are not permitted on flood drainage corridors, so MARD will be collecting expert opinions prior to approving the project.
Vinpearl, previously known as the Hon Tre Tourism Investment and Development, Trading and Services Limited Liability Company, was established on July 25, 2001 in Nha Trang city, Khanh Hoa province. It is primarily engaged in the development and management of tourism and hospitality properties and is the owner of large-scale projects in tourism centers throughout the country.