Local investor agree strategy deal with foreign partners
Local investor agree strategy deal with foreign partners
The Empire property investor has inked a strategy co-operation deal with Dream Hotel Group of the US and Louvre Hotels Group of France for Empire hospitality management in Viet Nam.
Deputy General Director of Empire Group, Trinh Viet Hung said the agreement will help the group operate hospitality projects in Viet Nam.
He said it’s also the first strategy agreement in hospitality between a local hospitality investor and world brand management partners.
The Empire Group said the world brand hospitality operation will be applied for managing coastal Naman Hospitality in Da Nang.
Last year, the local group started construction on the CocoBay project – the first entertainment-cum-hospitality complex in the central region – in Da Nang with total investment of VND14 trillion (US$622 million).
The Group aims to develop a series of entertainment and recreational centres, resorts, condotels, and a conference centre, in addition to a park and opera house including the Coco Ocean Resort near the Montgomerie Links and Da Nang Golf Club.
Tourist real estate remains a popular investment in the central city, attracting 25 foreign direct investment projects worth US$1.8 billion.
Da Nang has so far developed 16 tourist property projects, consisting of 749 villas, of which 609 are for sale and 140 for lease.
