Danang calls for investment in tourism complex

Danang Land Exploitation and Management Co. on Tuesday invited investors to put their money into Van Village resort and entertainment complex in Lien Chieu District, which is expected to cover over 1,500 hectares with the total investment of US$5 billion.

The area includes 600 hectares of chargeable land, 500 hectares of water surface and 465 hectares of free land. Potential investors are required to build a hotel and resort with 1,000 rooms, condos, villas for lease or sale, a commercial center, theatre, international convention center, golf course and gambling zone for foreigners. The enterprise will field investment applications until June 7.

Local government is preparing to relocate 134 families of the Van village to Hoa Hiep residential area in early December to facilitate the project.The U.S.'s Oaktree Group planned to invest US$4.5-5 billion in a tourism project in the city but halted the plan due to the recent global financial crisis.

Source = vietnamtourism