A corner of Quang Ninh (Photo: VNA) Hanoi (VNA) – The northern coastal province ofQuang Ninh has caught the attention of many foreign investors after they made afield trip to the province in the framework of the recent International Real Estate Conference (IREC) 2018 held in Hanoi.
Former President of the Singapore Institute of EstateAgents Harry Yeo shared his impression of the majestic beauty of Ha Long Bayduring his first trip to the World Heritage site. He said a long and beautifulcoast and expansive unused land in the province constitute excellent potential fortourism and real estate development.
According to assessment by the Vietnam Association ofRealtors, Quang Ninh is fast becoming an attractive destination for bothtourists and investors, with the focus on attention on Ha Long, Mong Cai and particularlyVan Don, an area designated to be a special economic zone.
In the first nine months of 2018, Quang Ninh welcomedmore than 10 million visitors, including 3.6 million foreigners, up 19 percentfrom the same period last year. Revenues from tourism were estimated at 17.5trillion VND, up 30 percent year on year.
As such, the province promises to be a profitable landfor tourism and resort property development.
During the past two years, Quang Ninh has attractedover 100 real estate projects, most of which involved tourism and resort.
The biggest investor in the field is Vietnam’s largestprivate enterprise Vingroup, which poured money into the Vincom Ha Long – a modernshopping and entertainment centre in Ha Long city on the shore of the WorldHeritage site Ha Long Bay, and the five-star tourism-resort complex of VinpearlHa Long Bay Resort.
The Sun Group, another major developer in Vietnam, markedits presence in the city with the Van Don service complex, the beach amusementcomplex Ha Long Ocean Park, and the beachfront resort complex Sun PremierVillage Ha Long Bay.
In particular, the group’s Sun World Ha Long Complexis the biggest tourism property project in Ha Long, with a total investment of7.794 trillion VND.
The FLC group invested 3.4 trillion VND in the FLC HaLong, a complex of golf course, villas, condo hotels and conference facilities,which spreads over 224 ha of land. It is also carrying out a project building a50-storey twin-tower complex in the centre of Ha Long city.
The recent inauguration of the Ha Long-Hai Phonghighway provides an important link in the infrastructure network of thenorthern key economic triangle of Quang Ninh, Hai Phong and Hanoi.
The highway helps cut considerably the distance fromHai Phong to Quang Ninh, thus enhancing connectivity between the two localities,which is believed to facilitate not only transport but also the development oftourism property in the region, said Vice Chairman of the Vietnam National RealEstate Association Nguyen Ngoc Thanh.
Vice Chairman of the Vietnam Association of RealtorsNguyen Van Dinh noted that the completion of many transport infrastructure projectsin Quang Ninh recently has helped the province overcome previous disadvantagesin terms of travel distance. As a result, the number of visitors to Quang Ninhwill increase fast in the time to come, thus further attracting investment intourism real estate. He said the property market in Quang Ninh will certainly growbustling in the future.
Former deputy minister of natural resource andenvironment Dang Hung Vo shared the view that transport infrastructure plays animportant role in attracting tourism property investors.
However, experts warned that the province’sadministration needs to draw out specific plans for the development of tourism propertywith consideration of real demand, so that the local potential will be fullytapped without affecting the landscape of the World Heritage site of Ha LongBay.-VNA
