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FLC Faros to invest US$2 billion in Quảng Ninh

Update: March, 22/2017 - 09:00
A perspective of the high-end entertainment and services complex in Vân Đồn Special Economic Zone. — Photo courtesy of FLC
Viet Nam News

QUẢNG NINH — Quảng Ninh Province has permitted the FLC Group to study to invest in the high-end entertainment and services complex in Vân Đồn Special Economic Zone.

The People’s Committee of the province issued an official dispatch No 1662/UBND-XD1 last Friday in this regard.

According to the investment plan of FLC Faros Vân Đồn Investment and Development Co. Ltd (FLC Group’s affiliates), the project includes a large number of properties such as a resort, five-star hotel, international conference centre, casino, golf course, safari, museum, agricultural town community and library.

The total project investment (including two sites in Ngọc Vừng and Vân Canh Island) is estimated at US$2 billion on a total area of ​​4,000ha (2,500ha in Vân Canh Island and 1,500ha in Ngọc Vừng Island).

This will be the first casino for the Vietnamese people, expected to serve a large number of travellers to Hạ Long.

FLC is currently one of the biggest investors in Quảng Ninh, with the FLC Hạ Long — among the top largest resorts in South East Asia — located on an 18-hole golf course on the hill with an investment of VNĐ3.4 trillion ($149 million); and the BT twin towers at the headquarters of the Hạ Long’s People’s Council, Municipal Party Committee and Party Committee with a $123-million investment.

"Quảng Ninh is striving to make Ngọc Vừng a tourist attraction, contributing to the development of the local smoke-free industry. We are glad to have FLC invest in Ngọc Vừng," said Nguyễn Đức Long, Chairman of Quảng Ninh People’s Committee, during the survey visit to Ngọc Vừng Island with the FLC Group.

As for FLC Group, the company said that if Quảng Ninh approves specific policies, a resort could come up in Ngọc Vừng in the second quarter of 2017.

Simultaneously, FLC also proposed to support the planning and construction of residential areas on the island in a new civilised zone, which could be the highlight on the tourism map of Ngọc Vừng.

Vân Đồn Island District has a total area of 551km, embracing Bái Tử Long Bay and connecting with Hạ Long. With great tourism potential, Vân Đồn is planned to be one of the three special economic zones in Việt Nam, besides Phú Quốc (Kiên Giang) and Vân Phong (Khánh Hòa).

Its population is estimated to reach 150,000 by 2020 while the projected number of tourists coming to Vân Đồn is 1.7 million, including 900,000 international visitors.

According to the scheme, Ngọc Vừng Island will be a 45-km eco-tourism site in Vân Đồn District, divided into five functional zones, including Ngọc Vừng (265.5ha), mangrove ecological and aquaculture zone (350.9ha), tourist centre (295.5ha), central residential area (227.3ha) and northern resort (360ha).

As of now, in pursuit of the infrastructure development for tourism in Việt Nam, the FLC Group has invested more than VNĐ70 trillion ($3.07 billion) in nine provinces and cities, such as Thanh Hóa, Quảng Ninh, Bình Định, Quảng Bình, Khánh Hòa, Vĩnh Phúc and Hà Nội, as well as resorts, including FLC Sầm Sơn, FLC Quy Nhơn, FLC Vĩnh Thịnh, FLC Quảng Ninh, FLC Quảng Bình and FLC Hải Phòng.

By the end of 2017, FLC plans to hit the market with more than 2,500 condotels, 1,400 villas, 3,500 hotel keys and four golf links. The total assets value is estimated at $3.8 billion by the international real estate consulting agency Savills.

In Quảng Ninh, the FLC Hạ Long resort was started in March 2016, and gives a view of the whole city and Hạ Long Bay. Thanks to this prime location, FLC Hạ Long is expected to have a golf course with one of the best view in the world.

All the large-scale beach resorts of FLC Group have been developed to serve as complete “ecosystems,” with all the amenities included. Proceeding with this strategy, the FLC Group aims to become the leading resort real estate investor and developer in Việt Nam. — VNS





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