VinaCapital, Chow Tai Fook Building $4 Billion Resort in Vietnam
HANOI–Vietnam-based investment company VinaCapital and Gold Yield Enterprises, a unit of Hong Kong-based Chow Tai Fook Jewellery Group Ltd. (1929.HK), have jointly begun construction on a $4 billion resort in central Vietnam, the Vietnamese government said Monday.
The resort will include hotel rooms a shopping mall, a golf course and other entertainment facilities, the government said.
The first part of the resort will be open in 2019 and the entire project in 2035, the government added.
Their joint venture project comes as VinaCapital moves away from Macau where investors have suffered falls in revenue and earnings amid a slowdown of China’s economy and Beijing’s continuing crackdown on corruption.
Chow Tai Fook resort project begins in Vietnam