BRG Group has announced it plans for a multi-million dollar mixed use project in Vung Tau and has said it will begin the project’s first phase with the construction of its Hilton hotel complex.
A source from Ba Ria-Vung Tau People's Committee said BRG Group has submitted its investment proposal for its real estate project in Vung Tau City. According to the proposal, BRG Group will redevelop an area of nearly 11 hectares in the Lam Son zone, Front Beach area into a sunflower-shaped complex with a total investment of $514 million USD.
The complex is expected to consist of six high-rise towers for 11,000 residents along with Additionally there will be three hotels, a cluster of guest apartments with over 1,000 rooms; 75 luxury villas, 62 townhouses, two primary schools and a 5,000-m2 square.
If approved, the project will be begin in 2019 and is expected to be complete in 2025. The first phase consists of the Hilton hotel complex. As well as Hilton, there will also Rex and Royal brand hotels in the complex.
Earlier this year, the Ba Ria-Vung Tau People's Committee was presented with a plan by the Tuan Chau Group to develop a 345 hectare tourism complex that will stretch from Front Beach to Dau Beach.
BRG Group (BRG Group) an investment and operations company focused primarily on banking, golf and real estate. The company was founded in 2009 and is headquartered in Hanoi. The company is investing and operating the Hilton Hanoi Opera Hotel, the Hilton Hanoi Garden Inn, the Diamond Westlake Suites and the Sheraton Da Nang Resort. Additionally the company also plans to redevelop the Thang Loi Hotel near the Hanoi’s West Lake into a hotel complex which is will be under the Hilton brand.
In the housing sector, BRG has developed the BRG Coastal City project in Hai Phong, and the Oriental Westlake Building and Aquaspring in Hanoi. BRG is also partnering with Sumitomo to develop the Smart City project located on the axis of Nhat Tan - Noi Bai route with a total investment of more than $4 billion.