The VinaCapital Group, asset management company from Vietnam and its partners from Hong Kong and Macau have finally proposed a timeline to their long-announced $4 billion project HOIANA.
Initially called Nam Hoi An, the tourism and leisure complex was devised back in 2007 by VinaCapital and Genting Beehad from Malaysia.
With the Malaysian partner out of the picture soon after the announcement, VinaCapital have been left stranded, scouting for new investors which would breathe life into this ambitious project.
Chow Tai Fook from China and junket operator Suncity Group from Macau decided to join the venture last year for a casino project which is expected to be launched in Q1 2019.
The gambling venue of HOIANA will be located on the beaches near the UNESCO World Heritage site of Hoi An and it will feature a hotel with 445 rooms and over 200 residential apartments.
The property comes with a Rosewood luxury resort with 75 villas and 25 residences, a beach clu, a watersport and a diving centre casino and a golf course which are all be included in the first stage of the project building.
The CEO of VinaCapital Don Lam expects HOIANA will become Asia’s most renowned resort destination and a new benchmark for high end tourism in Vietnam.