Friday, October 03, 2008

Construction starts on Vietnam’s largest resort complex

Asian Coast Development Tuesday began construction of a multi-billion dollar resort complex in southern Ba Ria-Vung Tau Province, the Canadian property developer said in a statement.

The US$4.2 billion Ho Tram Strip development will feature five integrated luxury resorts and a Greg Norman-designed golf course. The first stage of the resort is expected to finish in 2011.

Asian Coast, partly owned by Harbinger Capital Partners, said site preparation and leveling was being done by local contractor Phu Thinh Construction Investment Joint-Stock Company.

Once construction is in full swing, the development will require up to 4,200 construction workers, most of whom will be sourced from the labor pool of Ba Ria-Vung Tau and surrounding provinces.