HCMC – The southern province of Ba Ria-Vung Tau has decided to auction nearly 14 hectares of land at a prime beachside location in Vung Tau City, which will be developed into a luxury resort and entertainment complex.
The site is Nghinh Phong Cape where visitors can see the East Sea on three sides, the huge statue of Jesus Christ on Tao Phung Mount and the snaking coastal road around Nui Nho Mountain.
The resort and entertainment complex would cost an estimated VND10.7 trillion. The winning bidder would have to make a one-time payment for a lease term of 50 years.
The project should feature tourist service, entertainment, 5-star hotel or commercial center.
In recent years, Ba Ria-Vung Tau has emerged as a major venue for resort real estate developers in southern Vietnam.
