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BIM announces new Phu Quoc project

Released at: 17:45, 13/10/2016

BIM announces new Phu Quoc project

Photos: BIM/Viet Tuan

Phu Quoc Waterfront expected to launch late next year.

by Huyen Thanh

BIM Holdings (BIM) announced a new project on October 11 - Phu Quoc Waterfront, a component of Phu Quoc Marina, a resort and recreation complex on Phu Quoc Island.

A BIM representative said that Phu Quoc Waterfront boasts a superb location and has potential in trade centers and hotels. The project features beach houses and boutique hotels, with 144 three-and-a-half storey houses. On an area of 3.2 ha the project also includes a beach square, for festivals and night markets.

The project is estimated to be launched by the fourth quarter of 2017.

With total capital of $180 million, Phu Quoc Marina covers 155 ha and is connected with seven modern components providing entertainment and resort services and facilities: the InterContinental Phu Quoc Long Beach Resort & Residences, Regent Phu Quoc Resort, Fusion Suites Phu Quoc, Sailing Club Phu Quoc, Mini House Waterfront, a five-star condotel project, and a theme park.

Phu Quoc Waterfront is the second project invested by BIM, following the InterContinental Phu Quoc Long Beach Resort & Residences.

On an area of 9.2 ha, InterContinental Phu Quoc Long Beach Resort & Residences has 336 five-star rooms, 115 luxury apartments, five villas, and other facilities. The project is estimated to be completed by the first quarter of 2017.

According to a Savills report on Phu Quoc’s real estate market in the first quarter of this year, the island is an ideal tourism destination with spectacular beaches, improved infrastructure, and favorable policies. Following the opening of the international airport in 2012, visitor numbers have increased by 55 per cent over the last three years.

In the first four months of this year more than 523,000 international and domestic visitors arrived on the island, up 37 per cent year-on-year. A number of large-scale (200+ rooms) projects are expected to enter the market within the next two years, with international operators such as Starwood, IHG and Mövenpick already in place.

Headquartered in Ha Long city, northern Quang Ninh province, BIM is a private investment group established in 1994. Structured as a holding company, BIM and its subsidiaries currently employ more than 4,000 staff and is a leader in a number of industries in Vietnam.

Another member, BIM Foods JSC, is Vietnam’s largest shrimp and salt producer, with over 1,500 ha of shrimp farms and 3,000 ha of salt farms. BIM has focused on food production and export, real estate investment and development, and commercial and services businesses, and has also begun researching and developing wind energy, transportation, and healthcare services projects.

The Syrena Vietnam JSC, a member of BIM, has developed a number of well-known projects, including the 255 ha Halong Marina Township, Halong Plaza Hotel, Frasers Suites Hanoi, and Syrena Cruises. Lifestyle JSC, its subsidiary, is the owner of Elite Fitness & Spa Center, E-Kid Children’s Fitness Center, and the Zpizza chain of restaurants.

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