A deal worth over $53.4 million will transfer the five-star hotel into the hands of a little-known company, which has relations with BRG Group.
Vietnam remains one of the most favored destinations for foreign investment in Southeast Asia, especially in the field of real estate largely due to the country’s friendly policies encouraging foreign direct investment, its political stability and strong economy.
The Hanoi-based developer is set to invest $132 milllion in a tourism complex in the central province of Thua Thien Hue.
Attractive returns may drive investors to the luxury segment but as prime property market refines and evolves, developers and products will be filtered.
The rising middle and upper classes are transforming Vietnam’s real estate market.
At the luxury end of Vietnam market is tremendous upside and opportunity for long term investment, with buyers set to benefit from potential capital appreciation as Vietnam continues its remarkable growth story, according to Managing Director of Savills Vietnam Neil MacGregor.
Hospitality real estate which has been an attractive sector for investors is expected to continue growing this year partly due to boosts from global megatrends.
International standard DIC Star Hotel is a stepping stone for Development and Investment Company to develop a hotel-golf course complex of more than 800 hectares in Vinh Phuc province.
Best Western Premier Sonasea Phu Quoc, a project in Sonasea Villas & Resort tourism complex, is the first five-star resort of Best Western hotel management group in Phu Quoc.
Disbursed foreign direct investment in 2018 increased by nine per cent to over $19 billion accompanied with sustainable economic growth has solidified platform for real estate development.
Publication permit No. 348/GP-BTTTT dated July 19, 2017, granted by the Ministry of Information and Communications of the Socialist Republic of Vietnam
Editor-in-Chief: Nguyen Cao Cuong
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