A vast urban, eco-tourism, and golf complex spanning 990 hectares in northern Vietnam’s Hung Yen Province has received the green light for a whopping $1.5 billion investment. This ambitious project, approved by Deputy Prime Minister Tran Hong Ha, promises to reshape the landscape of the area.
Nestled along the banks of the Red River, the project will feature not one, but two stunning golf courses with 36 and 18 holes, respectively. Beyond the greens, the expansive complex will include a vibrant residential area and an exciting theme park, ensuring a diverse range of activities for visitors and residents alike. With construction set to kick off in the second quarter and expected to conclude by 2029, the excitement around this development is palpable.
Hung Yen authorities are now in charge of selecting a developer while overseeing efficient land management. The Ministries of National Defense and Public Security will also provide guidance to ensure that security protocols are firmly in place, particularly regarding foreign ownership of housing.
The project is the brainchild of a partnership between a subsidiary of Kinh Bac City, a renowned property developer, and The Trump Organization, the global business empire founded by former President Donald Trump. Known for their portfolio of hotels, golf courses, and commercial properties worldwide, The Trump Organization has a notable presence in Asia, with golf courses in Dubai, Indonesia, and Oman, as well as properties in South Korea, the Philippines, and India.
Kinh Bac City, along with its subsidiaries, oversees over 5,000 hectares of industrial zones and 900 hectares of urban development, luring in more than $5 billion in foreign investments annually. The real estate market in Hung Yen, located just over 60 kilometers southeast of Hanoi, has recently become a hotspot for major developers, including Ecopark, Vinhomes, Masterise, and CapitaLand. Last year, the province achieved a record-breaking nearly $4 billion in foreign direct investment.
With this ambitious development on the horizon, Hung Yen is poised to become a vibrant destination for both investors and tourism lovers, promising to bring a fresh dynamic to the region. Who knew that a golf course could pave the way for so much excitement?
What does the $1.5 billion project in Hung Yen include?
The project encompasses a 990-hectare urban complex featuring two golf courses, a residential area, and a theme park, transforming the region’s tourism and living landscape.
Who is responsible for overseeing the project’s development?
Local Hung Yen authorities will select a developer and manage land resources, with guidance from the Ministries of National Defense and Public Security regarding security and foreign housing ownership.
What is Kinh Bac City’s role in the project?
Kinh Bac City, alongside its subsidiaries, is a key player in the development, managing substantial industrial and urban areas while attracting significant foreign investment and collaborating with The Trump Organization.
