20:49 (GMT +7) - Monday 25/09/2017

Property

Ho Tram Strip launches Kahuna project

Released at: 14:34, 05/09/2017

Ho Tram Strip launches Kahuna project

Photo: HTP

Sales open at five-star condotel and villa project with a return commitment of 8 per cent per annum for two years.

by Khanh Chi

The Ho Tram Project Company Ltd (HTP) has officially launched its Kahuna Ho Tram Strip condotel and villa project, at an event attended by several hundred potential investors who were entertained and presented with a virtual reality tour of the highly-anticipated resort development.

“The project offers a compelling opportunity to be part of a slice of this fast-developing coastal holiday destination,” said Mr. Michael Kelly, Executive Chairman of HTP. He 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 is a 244-key resort development made up of 164 condotel units situated in a 12-storey tower, 36 double key villas, and eight 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.

HTP guarantees a return of 8 per cent per annum for two years of net lease cost. Following this, lessees benefit from a favorable 60/40 net rental revenue share for the remaining eight years of the rental pool agreement. In addition, lessees enjoy 21 room nights per annum in the resort.

A wholly-owned subsidiary of Asian Coast Development Ltd, HTP leads the development of Ho Tram Strip, which is located two hours northeast of Ho Chi Minh City. 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 under-construction 559-room, five-star Beach Club.

With over $1.1 billion deployed and forward deployed capital, Ho Tram Strip represents the largest foreign-invested tourism development in Vietnam and is among the largest private equity investments in the country from the US.

“The company that first brought Vegas to Vietnam and brought the best Asian Tour event the golfing world has seen is today thrilled to announce that we are riding that Hawaiian wave across the Pacific and onto the shores of Vietnam’s East Sea with our new resort development,” Mr. Kelly said.

HTP plans to develop a private international airport in the vicinity of Ho Tram Strip, to further enhance tourism. “We have made it our primary focus to ensure that Ho Tram Strip is Vietnam’s entertainment capital,” said Mr. Kelly. “This is not just another resort development. It is a chance to be part of all the energy that has made Ho Tram Strip what it is today.”

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