Suoi Nuoc Resort Ltd will build a US$9.5 million luxury residential-style resort along the beach of Mui Ne in Phan Thiet, just 200 kilometres north of HCM City. Suoi Nuoc director Nguyen Danh Khoi said at a press conference in HCM City on March 21 that construction of the 2.2-hectare Aquaba Resort would start in the middle of next month.
The resort will have two seven-floor blocks with 60 apartments, 33 town houses and six villas. All units will be fully furnished.
There will also be a swimming pool, tennis court, spa, restaurant, bar, children’s area and other facilities.
The resort’s name comes from “aqua,” or water, and “ba,” which means three in Vietnamese. The grounds have many streams and pools.
Construction is expected to finish by the first quarter of next year. Foreign and local companies and people can buy property in Aquaba under a long-term lease, Khoi said.
They can choose to rent out their property or join a rental pool that manages it for them. A resort manager will run Aquaba.
Vietnamese can get a 10-year loan for 70% of the property costs through local An Binh Commercial Joint Stock Bank.
The apartments will cost from US$50,000 to more than US$200,000. A three-room town house is some US$200,000, and a four-room villacostsfromUS$500,000to US$525,000.
Suoi Nuoc will also build another resort around Mui Ne and a third resort on Phu Quoc Island. Each will cover five hectares.