FLC Faros to invest US$2 billion in Quang Ninh

Quang Ninh Province has permitted the FLC Group to study to invest in the high-end entertainment and services complex in Van Don Special Economic Zone.

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The People’s Committee of the province has issued an official dispatch No 1662/UBND-XD1 in this regard.

According to the investment plan of FLC Faros Van Don Investment and Development Co. Ltd (FLC Group’s affiliates), the project includes a large number of properties such as a resort, five-star hotel, international conference centre, casino, golf course, safari, museum, agricultural town community and library.

The total project investment (including two sites in Ngoc Vung and Van Canh Island) is estimated at US$2 billion on a total area of ​​4,000ha (2,500ha in Van Canh Island and 1,500ha in Ngoc Vung Island).

This will be the first casino for the Vietnamese people, expected to serve a large number of travellers to Hạ Long.

FLC is currently one of the biggest investors in Quang Ninh, with the FLC Hạ Long — among the top largest resorts in South East Asia — located on an 18-hole golf course on the hill with an investment of VND3.4 trillion ($149 million); and the BT twin towers at the headquarters of the Hạ Long’s People’s Council, Municipal Party Committee and Party Committee with a $123-million investment.

"Quang Ninh is striving to make Ngoc Vung a tourist attraction, contributing to the development of the local smoke-free industry. We are glad to have FLC invest in Ngoc Vung," said Nguyen Duc Long, Chairman of Quang Ninh People’s Committee, during the survey visit to Ngoc Vung Island with the FLC Group.

As for FLC Group, the company said that if Quang Ninh approves specific policies, a resort could come up in Ngoc Vung in the second quarter of 2017.

Simultaneously, FLC also proposed to support the planning and construction of residential areas on the island in a new civilised zone, which could be the highlight on the tourism map of Ngoc Vung.

Van Don Island District has a total area of 551km, embracing Bai Tu Long Bay and connecting with Hạ Long. With great tourism potential, Van Don is planned to be one of the three special economic zones in Vietnam, besides Phu Quoc (Kiên Giang) and Van Phong (Khanh Hoa).

Its population is estimated to reach 150,000 by 2020 while the projected number of tourists coming to Van Don is 1.7 million, including 900,000 international visitors.

According to the scheme, Ngoc Vung Island will be a 45-km eco-tourism site in Van Don District, divided into five functional zones, including Ngoc Vung (265.5ha), mangrove ecological and aquaculture zone (350.9ha), tourist centre (295.5ha), central residential area (227.3ha) and northern resort (360ha).

As of now, in pursuit of the infrastructure development for tourism in Vietnam, the FLC Group has invested more than VND70 trillion ($3.07 billion) in nine provinces and cities, such as Thanh Hoa, Quang Ninh, Binh Dinh, Quang Binh, Khanh Hoa, Vinh Phuc and Hanoi, as well as resorts, including FLC Sam Son, FLC Quy Nhơn, FLC Vinh Thinh, FLC Quang Ninh, FLC Quang Binh and FLC Hai Phong.

By the end of 2017, FLC plans to hit the market with more than 2,500 condotels, 1,400 villas, 3,500 hotel keys and four golf links. The total assets value is estimated at $3.8 billion by the international real estate consulting agency Savills.

In Quang Ninh, the FLC Ha Long resort was started in March 2016, and gives a view of the whole city and Ha Long Bay. Thanks to this prime location, FLC Hạ Long is expected to have a golf course with one of the best view in the world.

All the large-scale beach resorts of FLC Group have been developed to serve as complete “ecosystems,” with all the amenities included. Proceeding with this strategy, the FLC Group aims to become the leading resort real estate investor and developer in Vietnam.


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