Emirates NBD Bank PJSC from the United Arab Emirates (UAE) has agreed to provide US$200 million for luxury tourism and resort projects planned in the southern Khanh Hoa province.
A signing ceremony for a joint-venture contract between Swiss Attixs Hospitality Group and Bao Lam Investment Joint Stock Company on the use of the sponsor capital was held in Khanh Hoa's Nha Trang city on January 18.
Bao Lam Investment JSC CEO Nguyen Van Dung said the company will coordinate with its Swiss partner to begin construction on a world-class resort and villa complex in North Cam Ranh peninsula. The project, with scheduled investment capital of around US$80 million, will eventually meet six-star standards.
Following the project's completion, the two companies will survey other locations in Khanh Hoa with the potential for additional luxury tourism investments.
Swiss Attixs Hospitality Group specialises in developing and managing premium resort, hotel, and tourism real estate, as well as providing the services necessary for supporting luxury tourism projects.
By late 2012, the North Cam Ranh peninsula area had attracted 33 investors and granted investment licenses to 32 projects totaling nearly VND20 trillion in registered capital.