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Tuesday, May 11, 2021

Hoi An Royal Group invests VND2.5 trillion in resort condotel complex

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QUANG NAM – Hoi An Royal Group (HARG) announced on June 16 that it is investing VND2.5 trillion into the Shantira Beach Resort & Spa project comprising 70 sea-view villas and 430 resort condotel units to be located next to An Bang Beach, Hoi An City, Quang Nam Province.

While the villas will be operational in the first quarter of 2021, the resort condotel will be completed in Q2, 2021.

Speaking at the event, Le Huy Khang, HARG’s Business Development Director, said that Dusit Thani, a Thailand-based hospitality management corporation, would manage the 8.6-hectare complex.

“We faced many difficulties, especially during the first half of this year due to the impact of Covid-19,” said Khang, adding, “At that time, the realty market was mainly shut. Construction and business activities suffered as a result of the social distancing measures taken by the Government. During this difficult situation, including for the financial sector, we still made great efforts to ensure the project stayed on schedule.”

Apart from the Shantira Beach Resort & Spa, HARG has previously invested in several four- and five-star hotels including the Hoi An Royal Hotel – MGallery by Sofitel, the Royal Riverside Hoi An and the River Suite Hoi An.

In March 2020, the group had inked a deal with Vietinbank Hoi An, wherein the latter committed to a sponsorship worth VND800 billion for the project. In addition, the bank can offer a loan that is equivalent to 70% of the project unit’s value to buyers.

By Nhan Tam

 

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