The Ministry of Agriculture and Environment recently published a consultation on the environmental impact assessment report of a 36-hole golf course and supporting facilities within the BRG Garden City urban area in Tuong Linh commune, Kim Bang district, Ha Nam province. The project is led by Golf Thien Duong Joint Stock Company as the investor.
According to the environmental impact assessment report published in June 2025, the project has received approvals at various stages: the Ha Nam People’s Committee approved the detailed construction planning at a ratio of 1/500 in 2018 for a total studied area of 191.4 hectares; the Ministry of Natural Resources and Environment approved the environmental impact assessment report in 2019; and the Prime Minister approved the investment policy in 2020.
In June 2023, the Ha Nam People’s Committee agreed to adjust the investment policy and approved the investor. The adjustments include the development of a 36-hole golf course and supporting facilities, including villas for rent, aiming to establish a golf course that meets international standards and offers comprehensive accommodation, resort, entertainment, and other supporting services for golfers and visitors.
In December 2023, the project underwent another planning adjustment, resulting in a total area of 177.49 hectares. This includes 120.35 hectares for the golf courses, 2.63 hectares for the administration and hotel area (with a height of 5-6 floors), 7.3 hectares for the entertainment area, etc. The project is expected to serve approximately 600 tourists per day.
The total investment capital is VND 4,996 billion. The project is divided into two phases: Phase 1 (comprising 18 holes in the south and a clubhouse) from Q4/2023 to Q4/2028, and Phase 2 (18 holes in the north) from Q1/2024 to Q4/2028.
According to the environmental impact assessment report, the completed items (which have been constructed and put into operation) that are not within the scope of the environmental impact assessment for construction include: an 18-hole golf course in the south with an area of 64.12 hectares, transportation infrastructure with an area of 8.73 hectares, and technical infrastructure in the south with an area of 0.5 hectares.
In this report, the project owner requests an assessment of the environmental impact of constructing the project’s items, including the administration and hotel building, villas, entertainment area, commercial and service area, northern golf course, and landscape and technical infrastructure.
Through this environmental impact report, the investor requests relevant authorities to facilitate the completion of legal procedures to continue implementing the next steps and put the project into operation as soon as possible.
Golf Thien Duong Joint Stock Company was established in April 2016 with a charter capital of VND 549 billion. The company mainly operates in the fields of real estate and services, with its head office located in Quang Thua village, Tuong Linh commune, Kim Bang district, Ha Nam province. In August 2022, the company increased its capital to VND 1,000 billion. As of now, Ms. Vu Thi Hay (born in 1977) is the Chairman of the Board of Directors and legal representative of the company.
The company has issued PGCBOND.2020 bonds worth VND 2,681 billion and fully repaid them in early 2023.
In terms of business performance, Golf Thien Duong announced some financial indicators up to 2023. The company recorded a loss of over 9 million VND, while in 2022, the after-tax profit was 86 million VND. As of December 31, 2023, the company’s equity was 990 billion VND. Golf Thien Duong’s total debt was 703 billion VND, a 72% decrease due to the absence of bond debt.
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