T&T Group unveils $4.5 billion sports complex and theme park project in Hanoi
By Lam Giang
November 02, 2024 | 11:06 AM GMT+7
Vietnam's T&T Group and Qatar’s JTA investment group have unveiled plan to develop a $4.5 billion international-standard sports complex and Disneyland-style theme park in Hanoi’s Dong Anh district.
T&T Group said the planned site would span 330 hectares and include both a multi-purpose sports complex and an entertainment park, expected to become a major regional draw.
Under the terms of the memorandum of understanding signed by T&T and JTA, the Qatar-based group will manage the project’s financing. T&T Group will handle legal compliance, operational planning, and infrastructure development alongside JTA, in line with Vietnamese and international standards.
T&T Group said the project’s sports facilities, representing about $1.3 billion of the investment, are expected to meet Olympic standards, including a centerpiece stadium and advanced athletic infrastructure.
The Disneyland-style theme park, with a budget of around $3.2 billion, aims to capture Vietnam’s largest amusement park market, with attractions inspired by globally renowned theme parks.
T&T Group Vice Chairman, Do Vinh Quang, highlighted the complex's potential to boost Vietnam’s tourism and economic development, while establishing a strong foundation for Vietnam-Qatar cooperation.
“This project will not only elevate Vietnam’s sports and cultural life but also open economic opportunities in Hanoi and beyond,” Quang said.
Do Vinh Quang, Vice Chairman of the board of directors of T&T Group (right) and Amir Ali Salemi, CEO of JTA Group, exchange the memorandum of understanding for the partnership
T&T Group, known for its involvement in Vietnamese sports, founded the Hanoi Football Club, which has become the nation’s most successful professional team, with six national titles. The group has also backed Thai Nguyen Women’s Football Club and invested in table tennis, with Hanoi Table Tennis Club athletes recently winning gold at the SEA Games.
T&T has additionally invested in sports infrastructure and youth sports programs throughout Vietnam. The company recently sponsored the 2024 Hanoi Cup Women’s International Football Tournament, marking the 70th anniversary of the capital's liberation.
With its new project in Hanoi, T&T Group is reinforcing its commitment to Vietnam’s sports industry and long-term economic growth, aiming to elevate Vietnamese sports on the international stage.
Menas Group has entered a strategic partnership with Keppel to co-develop an integrated ecosystem of lifestyle services across Keppel’s real estate projects in Vietnam, beginning with the landmark Celesta City development in Saigon South.
PVI Asset Management (PVI AM) and SonKim Capital (SK Capital), a business unit of SonKim Group has announced a strategic collaboration to develop innovative real estate investment products tailored for institutional investors and high-net-worth individuals.
Filum AI has successfully raised $1 million in funding despite a challenging venture capital market, underscoring the potential of AI and shifting investment strategies.
Enterprises are advised to promptly assess and evaluate the impact of the changes in the newly-issued to ensure timely compliance in the upcoming tax finalization period.
Lux Travel DMC has solidified its position as one of the global leaders in sustainable tourism with the prestigious Travelife Certified Sustainability Award 2025.
