Phú Hòa Lake Urban Area Selects New Investor After Over a Decade of Dormancy

After over a decade of stagnation, the Phu Hoa Lake urban-tourism-cultural-sports complex has finally seen a breakthrough. The People's Committee of Gia Lai Province has approved the selection of a new investor for this nearly 280-hectare project, with a total investment capital of approximately VND 22,000 billion.

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The People’s Committee of Gia Lai Province has recently approved the investor selection results for the Phu Hoa Lake Urban-Tourism-Cultural-Sports Area project, marking a revival after over a decade of stagnation. Photo: Truong Dinh.

Spanning nearly 280 hectares, the project boasts a total investment of approximately VND 22 trillion. Photo: Truong Dinh.

Local residents highlight the project’s prolonged inactivity, noting incomplete and unsafe structures within the site. Photo: Truong Dinh.

“Hearing the project is resuming makes me very happy. I hope it progresses quickly to improve the area’s appearance, as it’s been neglected for too long,” shared Mrs. Nguyen Thi Kim Oanh (67), a local resident. Photo: Truong Dinh.

Internal road infrastructure within the project area. Photo: Truong Dinh.

The Phu Hoa Lake project was initially approved by the former Binh Dinh Province in July 2015 with a detailed 1/500 scale plan and an investment of VND 5 trillion. However, after years of development, the project remains incomplete. Photo: Truong Dinh.

The sole government-built structure within the project. Photo: Truong Dinh.

The project’s revival brings renewed hope to the local community. Photo: Truong Dinh.

Aerial view of the Phu Hoa Lake project. Photo: Nguyen Gia.

According to the decision approving the investor selection for the Phu Hoa Lake project, the winning consortium comprises Geleximco Group – Joint Stock Company (GELEXIMCO), Glexhomes Joint Stock Company (GLEXHOMES), Phuc Loc Group Joint Stock Company (PLG), and Traffic Construction Corporation 8 – JSC (CIENCO 8). The project is scheduled to run from Q2/2025 to Q4/2040.

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