The Ho Tram Project Company has launched its KAHUNA Ho Tram Strip condotel and villa project during a recent event drawing the attendance of several hundred potential investors.
Designed by leading Ho Chi Minh City architects, Korn, and international engineers, OROCON, KAHUNA, named after the legendary waves of Hawaii, captures the essence of a beachside holiday experience. It offers a compelling opportunity to be part of a slice of the fast-developing coastal holiday destination in southern province of Ba Ria – Vung Tau.
Michael Kelly, Executive Chairman of the company, described the condotel and villa development as “featuring a design inspired by a luxury cruise liner with sleek nautical lines” and added that “in reinforcing the origins of its name and its coastal location, an aquatic concept has been incorporated throughout the resort design.”
KAHUNA Ho Tram Strip is a 244 key resort development made up of 164 condotel units situated in a 12-storey tower, 36 double key villas and 8 beach front villas all for long-term lease.
Investment costs range from $88,800 for a one-bedroom standard unit to $400,000 for a penthouse and from $350,000 to $900,000 for a villa.
The developer guarantees a return of 8 per cent per annum for 2 years of net lease cost. Following this, lessees benefit from a favorable 60/40 net rental revenue share for the remaining 8 years of the rental pool agreement. In addition, lessees enjoy 21 room nights per annum in the resort.
The Ho Tram Project Company, a wholly-owned subsidiary of Asian Coast Development Ltd, leads the development of the Ho Tram Strip which is located two hours from Ho Chi Minh City.
It comprises 164 hectares along 2.2km of pristine beachfront and is surrounded to the west by natural forest. One of its main feature is a casino which allows foreigners and Viet Kieu to gamble.
KAHUNA is the fifth phase of the Ho Tram Strip development, adjoining the existing 541 room five-star Grand Hotel, Vietnam’s largest and most awarded integrated resort, and the 559 room five-star star Beach Club (the newest hotel product currently under construction).
To the west are located the award-winning Greg Norman designed Bluffs Golf Course and the prestigious Gallery Villas residential development.
With over $1.1 billion deployed and forward deployed capital, Ho Tram Strip represents the largest foreign invested tourism development undertaken in Vietnam and among the largest private equity investments into the country from the United States.
In the future, the company plans to develop a private international airport in the vicinity of the Ho Tram Strip aimed at further enhancing tourism to Vietnam whilst other zones of the 164-hectare land parcel are earmarked for such facilities as a water park, amphitheatre, wellness centre, theme park and many more attractions.