Vietcombank funds Vinpearl Danang resort
By Phuong Thao - The Saigon Times Daily
HCMC – Vietcombank has clinched a US$35 million credit deal with Vinpearl Danang Joint Stock Co., a member of Vingroup, to finance the Vinpearl Danang Luxury Resort & Residences project.
The project is expected to begin operation in early 2012 as a six-star resort with a 209-room hotel and 39 sea-view villas. It covers 15.4 hectares on the Son Tra-Dien Ngoc beach.
Alongside the credit for Vinpearl Danang, Vietcombank will also give financial support for customers of the project with 15-year loans accounting for up to 90% of a villa’s value.
Vietcombank has financed many tourism property projects in Vietnam such as Park Hayatt, Renaissance Riverside hotels in HCMC, Metropole, Intercontinental and Sheraton in Hanoi, Evasion Hideway Nha Trang and Anna Madara Dalat.