Home Real Estate “Vinacapital Hoiana – Shantira Beach Resort and Spa: Unveiling the Secrets to...

Real Estate

“Vinacapital Hoiana – Shantira Beach Resort and Spa: Unveiling the Secrets to Our Success and Extended Timeline”

13 January, 2025

143

The People’s Committee of Quang Nam province recently issued a document on the policy to adjust the implementation progress of the Vinacapital Hoi An Beach Resort and Spa project in Dien Duong ward, Dien Ban town.

The document, dated December 30, 2024, was sent to the Departments of Natural Resources and Environment, Planning and Investment, Construction; the People’s Committee of Dien Ban town; and Vinacapital Hoi An Tourism Company. The Provincial People’s Committee Chairman stated that the Vinacapital Hoi An Beach Resort and Spa project in Dien Duong ward, Dien Ban town, is a large-scale investment project that has been completed and put into operation, occupying most of the project’s area.

Therefore, to continue investing in the completion of the entire project, promoting investment efficiency, not wasting land resources, and contributing to the socio-economic development of the province; The Provincial People’s Committee agreed on the time affected by force majeure events affecting the project progress and agreed to adjust the project progress until December 2026 for completion and operation of the entire project as proposed by the Department of Planning and Investment, and agreed upon by the People’s Committee of Dien Ban town and the Department of Natural Resources and Environment in the above-mentioned documents.

The Department of Natural Resources and Environment shall review and advise the Provincial People’s Committee to consider amending Clause 3, Article 2 of Decision No. 972/QD-UBND dated March 20, 2018, of the Provincial People’s Committee to ensure compliance with the Land Law of 2013 and 2024, and in line with the actual situation of the project implementation. The Department of Planning and Investment shall guide the Vinacapital Hoi An Tourism Joint Stock Company to complete the dossier for adjustment of investment procedures in accordance with the current legal regulations; at the same time, monitor and urge the Company to pay 50% of the deposit amount as prescribed.

Vinacapital Hoi An Tourism Joint Stock Company is responsible for coordinating and working with departments, branches, localities, and related units to fully implement the dossiers and procedures and urgently invest in completing the entire project, ensuring the time adjusted by the Provincial People’s Committee; in which, note to work with the Department of Planning and Investment to soon perform the obligation of depositing to guarantee the implementation of the project.

Vinacapital Hoi An Beach Resort and Spa has an area of 8.6 hectares and is expected to serve about 2,160 people. The scale includes 3 apartment towers with a total of 746 apartments and 70 beach villas.

Vinacapital Hoi An Beach Resort and Spa

The project used to be foreign-invested when Vinacapital Hoi An Tourism Company was established in 2007, initially with 100% capital owned by VinaCapital Group (Singapore) (nearly VND 97 billion), and Mr. Le Minh Phuc as General Director. The project was inaugurated in December 2007 with an investment capital of 16 million USD. At that time, the project was called Sofitel HoiAn Resort, with a scale of 89 villas and 84 rooms, designed to international 5-star standards. Mr. Don Lam, CEO of VinaCapital Group, said that after 24 months, the resort would be put into operation.

However, after many years, there were no signs of project implementation. In 2018, the Quang Nam Provincial People’s Committee requested the investor to quickly implement the project, otherwise, it would be revoked. In late March 2018, the enterprise owner changed to Hoang Gia Hoi An Joint Stock Company, and at the same time, Mr. Nguyen Phu Quy, a businessman from Saigon, became the General Director and legal representative. After changing to a Vietnamese owner, the project was named as it is today, and the Company has also increased its charter capital to VND 1,000 billion.

Mr. Nguyen Phu Quy

After the new owner took over, in March 2018, the project was allowed by the Provincial People’s Committee to extend the construction period for 24 months until April 2020. However, the project continued to fall behind schedule and was extended until December 31, 2021.

At the beginning of 2022, due to difficulties in site clearance and the impact of the COVID-19 epidemic, the Provincial People’s Committee agreed to adjust the completion schedule until the end of December 2022. In January 2023, the project was adjusted locally and supplemented with underground space in the detailed construction planning (scale 1/500). Accordingly, the construction area of two blocks of tourist apartments A and B increased from 4,593m2 to 4,707m2; one block of hotel H was converted into one block of tourist apartment C, the construction area decreased from 2,442m2 to 2,287m2; removal of 5 tourist service houses HK1-KH5 with a total construction area of 79m2, integrating functions into the tourist service house in the Beach Club; the construction area of the Beach Club CL increased from 424m2 to 544m2. The land use coefficient decreased from 1.5 to about 1.21.

And at the end of December 2024, the project was extended for the fourth time, until December 2026.

Hoang Gia Hoi An Joint Stock Company, formerly known as Pacific Hoi An Hotel Joint Stock Company, was established on April 17, 1999, and the enterprise has now changed its name to Royal Capital Joint Stock Company. On the website, the Company introduces itself as having over 20 years of experience and owning a chain of high-class hotels such as Royal Riverside, River Suite Hoi An… Among them, Hotel Royal Hoi An – Mgallery by Sofitel is a luxurious boutique hotel in Hoi An operated by Accor Hotels Group.

Thu Minh

– 15:18 06/01/2025