Resort real estate 2019: emerging markets

In 2017, the resort real estate market segment was mostly focused in areas designed to be economic zones such as Phu Quoc, Van Don and Van Phong. 

In 2018, the ‘hottest spots’ of the market were in Quang Binh, Quang Tri, Quang Ngai, Phan Thiet, and Ha Tien, which remain untapped.

Real estate experts all said they can see a strong rise of some markets empowered by the state’s big investments in infrastructure. 

A series of important transport works connecting areas have been implemented, which have lured big realtors who bring multi-billion dong projects.

Huge projects have turned once-neglected land areas, poor in infrastructure and services, into potential resort markets.

Experts have predicted that a new wave of investment into infrastructure in the areas of Cua Tung, Cua Viet, My Thuy and Vinh Thai in Quang Tri province is coming. It is estimated that over US$3 billion worth of capital would be poured into airports, highways and seaports.

TPI Polene Power from Thailand in September signed an MOU with the provincial authorities on the development of the Quang Tri southeast economic zone.

There will be huge projects including a petrochemistry complex, an airport to be developed under the PPP mode, a seaport, gas-run power development, and supporting industries.

A representative of the Thai group said the Quang Tri airport project has received approval from the PM. It has investment capital of VND6 trillion, covering an area of 311.7 hectares in Gio Quang commune of Gio Linh district.

Meanwhile, the US$1 billion Da Nang-Quang Tri Highway, with the total length of 182 kilometers, is scheduled to kick off in 2019. Once operational, the highway will connect the La Son-Tuy Loan highway which is nearly completed, and the Da Nang-Quang Ngai highway, which has opened. 

Anticipating the strong development of Quang Ngai, real estate investors have flocked into the province. In H1 2019 alone, 3,000 apartments and villas from six projects will be launched into the market, a sharp increase of 52 percent over the same period of 2018.

The investors in Cua Tung area are all new players such as TTC, AE Corp, TMS, Pagas, Apec Corp and Anh Duong which have registered to develop six projects capitalized at $1 billion in total.

AE Resort, covering an area of 36 hectares, will be the first 5-star resort & entertainment integrated complex of Quang Tri, facing the coast on a stretch of 1.2 kilometres long.