The investment agreement was signed between the Group and the Saigon Invest Group in Ho Chi Minh City on April 7.

The project will have top-end tourist facilities including commercial, shopping, sports and entertainment services, being built along the 2km coast line at an estimated cost of US$150 million.

The Complex will be finished by 2012.

Marriot International is one of the world’s leading hotel groups with more than 3,400 hotels and resorts in 68 countries and territories around the globe. It owns two top hotels in Ho Chi Minh City namely the New World Saigon and the Renaissance Riverside Saigon and plans to build a 450-room hotel in Hanoi, a 250-room hotel in Nha Trang in 2013 and a resort in Da Nang in 2014.