Construction of Coco Bay project begins
Construction of Coco Bay project begins
The Empire property investor started construction of the Coco Bay project – the first and biggest entertainment-cum-hospitality complex in the central region – in the central city on June 5.
The project investor said the complex will cover 31ha with total investment of VND14 trillion (US$622 million).
The complex, which runs 600m along the coastline linking Da Nang and Hoi An, will include a series entertainment and recreational centres, resort, condotels, and a conference centre, in addition to a park and opera house.
The Coco Ocean Resort is expected to begin operations in 2017 for the first stage of the complex.
As scheduled, the complex will be managed and operated by Naman Hospitality.
The complex would be an ideal location for recreation and stay as it is sandwiched by the two biggest golf courses – the Montgomerie Links and Da Nang Golf Club.
Earlier this year, An Thinh Da Nang Investment joint-stock company commence its Soleil Da Nang Five-star hotel and luxury apartment complex project on My Khe Beach with total capital of VND10 trillion (US$444 million).
Tourist real estate remains a favourite investment magnet in this central city, attracting 25 foreign direct investment (FDI) projects worth US$1.8 billion.
The city has so far developed 16 tourist property projects, consisting of 749 villas, of which 609 are for sale and 140 for lease.
