IRBLand Real Estate Co., Ltd officially announced last week the project and planning scaled 1/500 of the high-end Phoenix Garden urban area in Phu Yen province.
Phoenix Garden, invested by IRBLand, a member of IRB Holdings, covers an area of 77.6 hectares.
The project is planned to border Da Rang river in the north and South China Sea in the east and is only three kilometres from Tuy Hoa Airport.
The project has a total investment capital of around VND5 trillion ($215 million) and is divided into several phases, of which Phase I accounts for VND1.25 trillion ($53.8 million).
Once completed, the whole project will consist of two five-star hotels and apartments, five mixed buildings, 508 row houses, 226 villas and 362 townhouses.
Chairman of IRBLand Bui Quoc Hoan said that the project is highlighted by the largely-invested landscape systems such as Hoang Lan Boulevard, Hoa Anh Dao Boulevard, Hoa Ban Boulevard, the internal canal system, exhibition centre for arts, healthcare centre, international preschool, commercial centre, movie theatres, four-season swimming pool, supermarkets.
To meet the needs of tourism development, the project will have two marinas built to take visitors by yacht to the famous tourist destinations in Phu Yen province such as Xuan Dai Bay, Vung Ro Bay, Van Phong Bay.
In addition to the projects in Phu Yen province, IRB Holdings is developing Phoenix Legend in Ha Long city with 26 single villas, 200 apartments and 220 hotel rooms managed by Accor under the MGallery brand.