Real estate developer CotecLand Group on Nov. 6unveiled Blue Sapphire Resort, its mixed-use, luxury property in coastal Vung Tau, last Saturday and began sales of units.

The 77,000-square-metre property along Chi Linh beach will comprise 460 apartments and penthouses, a 150-room hotel, dozens of villas, and other amenities, and be managed by hotel operator Swiss-Belhotel.

The developer plans to set up a leasing programme to help buyers of apartments and villas rent out their property.

Two 12-storey blocks with 260 apartments and 36 villas, built at a cost of 1 trillion VND (50 million USD), will be ready for occupation in March 2012.

Trinh Xuan Hoa, general director of CotecLand Group, said the company will also build a tourist wharf off the property with restaurants and bars.

Property services firm Savills Vietnam is the sole marketing and sales agent for Blue Saphire Resort./.