Vingroup raises investment capital in Vu Yen
Vingroup has increased the total investment capital of the Vinpearl Golf Hai Phong project from more than 18,792 billion VND to 55,870 billion VND (equivalent to 2.4 billion USD), nearly three times higher compared to the total initial investment capital.
The Vinpearl Golf Hai Phong course on Vu Yen Island has its project adjusted the investment target from an amusement park, housing, and island ecological park to an entertainment urban area with houses and an eco-friendly green park. The modified project spans more than 869.5 hectares of land use area. The construction size of the housing plans in the project also increased ten times compared to the initial scale of 200 hectares, including 7,095 villas and 3,553 houses, with an addition of a social housing area with a construction area of about 50 hectares. The investor can implement the project within six years from the day of the approved adjustment. So far, Vingroup has invested more than 2,600 billion VND in the project, with the 36-hole golf course completed in 2017 and the entertainment area undergoing the group’s deployment.