Kien Giang province gives green light to real estate giant's development on Hon Thom Island, part of Phu Quoc.
The Kien Giang Provincial People’s Committee has approved the Sun Group’s plans to develop a resort and amusement complex on Hon Thom Island and a cable car line connecting it with Phu Quoc Island.
The project will be divided into two phases with total investment of VND10 trillion ($458.4 million). The first phase will have initial investment of VND4.9 trillion ($224.6 million) and is expected to come into being in 2017.
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.
The Marriott resort project, invested by the Sun Group, will open in the near future, according to a representative from the Group.
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 Da Nang Sun Peninsula Resort, the Novotel Da Nang Premier Han River, the Premier Village Da Nang resort, and Ba Na Hills Da Nang.
The Group will soon launch several new projects of large-scale, 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.