Billionaire-backed Luxury Resort and Mega Yacht Project in Binh Dinh: Unveiling the Latest Developments Let me know if you would like me to provide additional revisions or if you have any other requests!

At the meeting, Mr. Roland Kiran Staub, Chairman and CEO of Finance Suisse Investment Fund, shared that the ultimate goal is to establish an International Financial Center (IFC) in Quy Nhon, attracting global investment and becoming a hub for innovation and international influence. The investors plan to develop the project in three phases.

Billionaire Timur Shahrukh Sheer Mohamed, representing the Palmer Johnson Group, affirmed their commitment to investing in the 5,200-hectare area surrounding De Gi Lagoon. The preliminary designs for parcels 16.1, 16.2, and 16.3 have been completed, along with partial technical designs. Cost estimation, financial modeling, and preliminary deployment plans for the adjacent land are also underway.

The investors requested the Binh Dinh provincial government’s support in clearing the De Gi Lagoon area in 2025 to facilitate the development of the aforementioned parcels, while retaining the land area as planned for urban, tourism, commercial, and marina development. They also emphasized the need for upgraded transportation infrastructure to connect the region.

Economic experts highly commended the province’s strategic vision and investment planning for the premium resort and mega-yacht project in the De Gi – Vung Boi area, which is envisioned to be of international standard. They also offered several recommendations for the province and investors to collaborate on concretizing the project in the near future.

Speaking at the meeting, Chairman of the Provincial People’s Committee, Mr. Pham Anh Tuan, affirmed that the province has made thorough preparations, and currently, 2/3 of the land area within the project scope is basically cleared. He suggested that the investors proceed with developing a few small-scale projects as a demonstration of their commitment and capabilities, after which the province will report to the Government to seek appropriate mechanisms.

The provincial leader particularly emphasized the orientation towards green, clean, and emission-free development, with the entire yacht system utilizing renewable energy, showcasing the project’s architectural and planning uniqueness.

The province is expediting procedures for the auction of parcels 16.1, 16.2, and 16.3, while also relocating 2,000 fishing vessels and fish cages from the project area and formulating resettlement plans for the affected residents. The 17-kilometer road connecting Cho Gom to De Gi is expected to commence construction by the end of 2025 or early 2026. Additionally, Binh Dinh will upgrade Phu Cat Airport and collaborate on training human resources to cater to the project’s needs.

The Chairman also emphasized the province’s commitment to staying ahead in completing tasks within their jurisdiction, providing the utmost support for investors to fulfill their commitments. This key project is expected to be a breakthrough for Binh Dinh, propelling it onto the international investment map.

Previously, in January, the Binh Dinh People’s Committee and the aforementioned enterprises agreed on the goal of constructing and operating an ultra-luxury international-standard resort in the De Gi Lagoon and Vung Boi beach area, spanning approximately 4,360 hectares.