Property and tourism investment becomes Quang Ninh’s strength
Investment has been poured strongly into property in the north-eastern border province of Quang Ninh, seeing the engagement of major property groups, BIM group, VinGroup, Sun Group and FLC, as a few to name.
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Prominent projects include the Vinhomes Dragon Bay, worth VND12 trillion (US$528.4 million), Marina Ha Long urban area, which was built at the cost of US$2 billion, SunWorld Ha Long Park worth VND7.8 trillion (US$343.46 million), FLC Ha Long costing VND3.4 trillion (US$149.67 million), Mon Bay Ha Long worth VND5 trillion (US$220.1 million) and Ha Long Star (US$550 million).
Apart from those million-US dollar projects, the property market in the province’s Ha Long city has been thriving with the appearance of new resort-tourism products which are more suitable with local people’s demand.
The first condo hotel (condotel) project named Citadines Ha Long was recently launched in the city, along with the Green Bay Premium hometel project. The project, the first of its kind in the city, allows owners with certificates of land use right to acquire long-term ownership and decide whether they want to stay or put their houses out for rent.
The constructions are set to be officially completed and handed over to customers in the fourth quarter of 2017.
In another move, the province has made efforts to speed up the implementation of Ha Long – Hai Phong expressway, Bac Luan II bridge, Van Don international airport, Van Don economic zone, Ha Long – Van Don and Van Don – Mong Cai highways, FLC Ha Long golf course and resort, Quang Hanh mineral hot spring resort, among others. Some projects will be put into operation at the end of this year or in early 2018.
The Van Don international airport is scheduled to be completed and operating in late 2017 and it is estimated to serve two million passengers each year.
These efforts aimed to reel in more visitors to explore interesting destinations in the locality. The number of visitors to Quang Ninh is predicted to continue to surge in the coming time.
Vu Duc Ngoc, Director General of the G5 Property said that the number of tourists to Ha Long city alone has escalated over the recent years, hitting an average of about 7.5 million people per year. Occupancy rate in hotels from three- to five-star reached between 60% and 70%, he added.
A series of large-scale tourism projects worth a total VND61 trillion (US$2.7 billion) will be built in the Van Don Special Administrative – Economic Unit of Quang Ninh in 2018, according to Deputy Head of the management board of Quang Ninh economic zone Hoang Trung Kien.
The overall plan on developing Quang Ninh tourism by 2020 and with a vision toward 2030 has made positive impacts on local tourism activities via attracting a series of new investment projects from strategic partners such as BIM Group, Vingroup, Sun Group, My Way, Tuan Chau and FLC. The active investment in tourism products from such businesses has brought facelift to the local tourism industry.
