The central coastal province of Binh Dinh’s people’s committee granted investment licences to four hotel projects in January, involving capital amounting to VND2.1 trillion (US$94 million).
According to the provincial Investment Promotion Centre, Fagros Construction Investment JSC has been allowed to start the construction of Quy Nhon Hotel FLC trade centre-luxury hotel complex, covering more than 17,300sq.m in an urban-trading service area in An Duong Vuong Street in Quy Nhon City’s Nguyen Van Cu Ward.
It comprises a five-star hotel of international standards, a business centre and a saltwater swimming pool, with a total investment capital of VND800 billion ($35.7 million).
The second project belongs to Binh Dinh Minerals Co (BMC), comprising a 15-storey four-star hotel and service complex, also being built in the urban-trading service area in An Duong Vuong Street.
The project is expected to be spread over 9600sq.m with an investment capital of VND500 billion ($22.3 million). It is expected to be complete in two to three years.
In addition, Anh Vy Company was granted a licence to conduct surveys and research on a project consisting of a four-star hotel, a trade centre and a luxury service complex, covering nearly 200ha at 35, Nguyen Hue Street, with an estimated capital of VND300 billion ($13.4 million).
Earlier, the province permitted Kien Hoang Construction Investment Co., Ltd to invest in five-star Xuan Dieu Hotel project at Hai Cang District.
The Xuan Dieu hotel will cover more than 3,400sq.m, comprising 198 rooms, with a total investment of nearly VND500 billion ($22.3 million). The project construction will begin in the first quarter of 2016 and the hotel will become operational in the fourth quarter of 2017.