The People’s Committee of Lao Cai Province has recently approved the investment plan for the O Quy Ho Tea Hill Eco-Urban Area. The joint venture between Ecopark Hai Duong Investment Corporation and Hong Phong Investment and Development Company has been selected as the project’s developer.
According to the issued decision, the project will be located in Sa Pa Ward, covering an area of over 29 hectares and accommodating approximately 1,451 residents. The development includes 152 semi-detached houses (up to 4 floors, 1.4 hectares) and 251 villas (up to 3 floors, 3.5 hectares). Additionally, a significant portion of the land (2.8 hectares) is allocated for commercial services, featuring a 300-room 5-star hotel, restaurants, supermarkets, and entertainment facilities.
Educational infrastructure is also integrated into the project, including a primary and secondary school (up to 5 floors, 0.2 hectares) and a kindergarten (up to 4 floors, 0.09 hectares). The project is exempt from the requirement to allocate land for social housing.
The total investment is estimated at over VND 2.4 trillion, with the investor contributing approximately VND 360 billion. The remaining VND 2.060 trillion will be mobilized in accordance with the project’s implementation schedule.
Lao Cai Province has urged the investor to expedite legal procedures to ensure the project breaks ground in Q1/2026. The entire project is expected to be completed and operational by Q3/2030.
Ecopark Hai Duong, a member of the Ecopark Group, has been involved in numerous large-scale projects nationwide. Notable examples include the EcoRivers Riverside Eco-Urban Area in Hai Phong (over VND 1.1 trillion), the Vinh Riverside Urban Area in Nghe An (jointly developed with Tri Duong Investment and Development Corporation, totaling VND 1.440 trillion), and the Hung Hoa Urban and Social Housing project in Nghe An (VND 11.346 trillion).
Earlier this year, the company gained attention by winning the auction for a 4.3-hectare plot in the center of Buon Ma Thuot City with a bid of nearly VND 570 billion. This land, formerly the site of Dak Lak General Hospital, is now designated for a 5-star hotel complex, commercial center, and residential development.
Hong Phong Company, established in April 2016, specializes in real estate and is headquartered at the Van Thuan Villa and Garden Town in Hung Yen Province. Its legal representative, Mr. Nguyen Cong Hong, also holds a position at Ecopark Hai Duong.
Sa Pa, a town in Lao Cai Province, Vietnam, was recently recognized by Times Out Travel Magazine as one of the 16 most beautiful small towns in the world for 2024. Known as a renowned resort destination since the 1920s, Sa Pa was established as a town based on the entire 681 km² area and 66,600 population of Sa Pa District.
Situated in the Hoang Lien Mountains at an average elevation of 1,500-1,800 meters above sea level, Sa Pa is Vietnam’s highest town. In recent years, its economy has flourished, particularly in tourism, which has experienced explosive growth, making it a premier destination in Lao Cai. Accommodation facilities consistently operate at 97% capacity.
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