On November 28, the Gia Lai provincial leadership granted investment certificates to ARQUE DEGI JSC for three projects: the Southern De Gi Lagoon Floating Urban and Tourism Area (Subzone 16.1), the Central De Gi Lagoon Floating Urban and Tourism Area (Subzone 16.2), and the Northern De Gi Lagoon Floating Urban and Tourism Area (Subzone 16.3). The total investment for these projects exceeds VND 8.554 trillion.
Representing the investors were Mr. Timur Mohamed, Chairman of Palmer Johnson Inc. (Monaco); Mr. Roland K. Staub, Chairman of FS Finance Suisse AG (Switzerland); and Mr. Tong Duc Hieu, Chairman of Lac Viet Group and Director of ARQUE DEGI JSC.
At the heart of these projects is the vision to transform De Gi Lagoon into Asia’s—and the world’s—first “zero-emission yachting destination.” The entire De Gi community will operate on a zero-emission principle, utilizing renewable energy, advanced water management technology, and eco-friendly propulsion systems for all yachts in the area. Each villa is designed as a seamless extension of a luxury superyacht.
Mr. Tong Duc Hieu, Director of ARQUE DEGI, stated that the consortium—comprising Lac Viet Group, FS Finance Suisse (Switzerland), and the globally renowned Palmer Johnson superyacht company—surveyed 3,200 km of Vietnam’s coastline. They identified Central Vietnam, particularly Gia Lai Province, as possessing timeless assets: a pristine maritime climate, breathtaking natural landscapes, and a rich local cultural heritage.
Mr. Tong Duc Hieu, Director of ARQUE DEGI JSC (center), outlines the projects in Gia Lai Province. Source: Gia Lai Province Information Portal
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The De Gi and Cat Tien regions are ideally suited for a special economic zone catering to global billionaires and ultra-high-net-worth individuals. This zone will feature ultra-luxury resorts, an international financial hub, and cutting-edge industries aligned with Gia Lai’s strengths, including aerospace, weather control centers, semiconductors, logistics, cargo aviation, 6G technology, blue ocean economy, vertical organic farming, and world-class innovation hubs.
The 1/2000-scale zoning plan for urban development, tourism, commercial services, and the De Gi Superyacht Marina has been approved by the province. Investors have meticulously studied De Gi Lagoon and its surroundings to create a 5,200-hectare “world-class luxury destination,” featuring floating hotels and villas, hillside resorts, a superyacht marina, golf courses, oceanfront urban areas, eco-tourism villages, billionaire islands, and more.
The initial phase focuses on De Gi Lagoon with three projects: the Southern De Gi Lagoon Floating Urban and Tourism Area (225 ha), the Central De Gi Lagoon Floating Urban and Tourism Area (187 ha), and the Northern De Gi Lagoon Floating Urban and Tourism Area (160 ha).
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Established in 2024 as Lac Viet Holdings JSC (originally headquartered in Binh Dinh, now Gia Lai), ARQUE DEGI JSC began with a charter capital of VND 200 billion. Ownership is held by Mr. Tong Duc Hieu (40%, Chairman and CEO), Ms. Nguyen Thi Thanh Ha (40%), and Ms. Nguyen Ngoc Ha My (20%). In June 2025, the company increased its capital to VND 1.5 trillion, maintaining the original shareholder structure. Mr. Tong Duc Hieu also chairs or leads several enterprises, including Lac Viet Development and Investment JSC, Vietnam Real Estate Investment JSC, Indochina Green Energy JSC, Lac Viet Quy Nhon JSC, Quy Nhon Infrastructure Development JSC, and Lac Viet Palmer Johnson Oceanfront Urban JSC. |
Binh Dinh Requests Investor to Downsize $4.6 Billion De Gi – Vung Boi Superyacht Resort Project
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