A source from Ba Ria-Vung Tau People's Committee said BRG Group has just submitted its investment proposal in a real estate project in Vung Tau City.
Accordingly, BRG Group will redevelop an area of nearly 11ha in Lam Son zone, Front Beach into a sunflower-shaped complex with a total investment of over VND12 trillion (roughly $514 million).
The investor said the project will consist of six high-rise towers serving about 11,000 residents. The complex is expected to consist of three hotels with brands of Hilton, Rex, Royal and a cluster of guest apartments with over 1,000 rooms; 75 luxury villas, 62 townhouses, two primary schools and a 5,000-m2 square.
If approved, the project will be commercialized in 2019 and is expected to be completed in 2025. The first phase consists of the Hilton hotel complex.
Earlier this year, Tuan Chau Group also proposed Ba Ria-Vung Tau People's Committee developing a 345-ha tourism complex stretching from Front Beach to Dau Beach.
BRG is a multi-sector group, which is investing and operating Hilton Hanoi Opera Hotel, Hilton Hanoi Garden Inn, Diamond Westlake Suites, Sheraton Da Nang Resort. In addition, BRG also plans to redevelop Thang Loi Hotel near the West Lake into a hotel complex which is projected under Hilton brand.
In the housing sector, BRG has developed the BRG Coastal City project in Hai Phong, the Oriental Westlake Building and Aquaspring in Hanoi.
BRG is also partnering with Sumitomo to develop the Smart City project located on the axis of Nhat Tan - Noi Bai route with a total investment of more than $4 billion.