Trump Organization greenlit to develop $1.5 billion golf resort in Hung Yen

Trump Organization greenlit to develop $1.5 billion golf resort in Hung Yen

The government has given a nod to the Trump Organization and its partner to pour $1.5 billion into golf courses, hotels, and real estate in Vietnam.

Deputy Prime Minister Tran Hong Ha signed a decision approving the investment in the Khoai Chau Golf Course, Eco-Tourism and Urban Complex in Hung Yen.

The venture will cover 990 hectares across seven communes in Khoai Chau district. It will feature a high-end eco-residential area with a golf course (3,500 people), another eco-residential area associated with a nature-focused golf course (1,800 people), a commercial urban area (29,700 people), and a specialised green park.

The complex will boast a 240-ha golf facility comprising two courses of 36 and 18 holes, respectively. It also allocates 7.3 ha for social housing and 99 ha for a theme park.

The complex calls for a $1.53 billion investment, including compensation and resettlement expenses of nearly $158 million and implementation costs of about $1.37 billion.

The complex will be operational for 50 years. Construction is expected to start in the second quarter of 2025 and be finished by the second quarter of 2029. Once completed, the venture is expected to unlock the potential of the area and promote the Red River tourism corridor, enhancing regional connectivity between Hung Yen, Hanoi, and northern provinces.

Hung Yen People's Committee has been assigned with investor selection and land use management in line with Vietnamese regulations.

The Trump Organization and Hung Yen Hospitality, a subsidiary of Kinh Bac City Development Holding Corporation, announced a deal for this venture in October 2024. The Trump Organization is also exploring investments in other projects and sectors in Vietnam and advancing visits of the company's leaders to the country.

VIR