Trump Group's proposed $1.5 billion golf course and hotel project in Hung Yen approved

The Khoai Chau urban, eco-tourism and golf course complex with a scale of over 990 hectares and a total investment of about 1.5 billion USD has just been approved for investment policy.

A section of road connecting Hanoi - Hung Yen region seen from above

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

The project is planned on a land area of ​​over 990 hectares in 7 communes of Khoai Chau district, bordering the Red River in the north and west. The 4 sub-areas in the project include an ecological residential area associated with a high-class golf course (population size of 3,500 people), an ecological residential area associated with an ecological golf course (1,800 people), a commercial and service urban area (29,700 people) and a green area and a theme park.

The golf course is planned on an area of ​​over 240 hectares with 54 holes, including a 36-hole course and an 18-hole course. The project also allocates 7.3 hectares of land for social housing development and a 99-hectare thematic park.

The total investment capital of the project is nearly 39,800 billion VND (more than 1.53 billion USD), including compensation and resettlement support costs of nearly 4,100 billion VND. The project will operate for 50 years, with implementation progress from the second quarter of 2025 to the second quarter of 2029.

The People's Committee of Hung Yen province was assigned to select investors for the above project, ensuring effective management of land resources. The Ministry of National Defense and the Ministry of Public Security were assigned to guide localities and investors on contents related to national defense and security, including the sale of houses to foreigners.

Previously, the Ministry of Finance and the People's Committee of Hung Yen province had reported to the Prime Minister on the approval of the investment policy of the above complex proposed by Hung Yen Investment and Development Group Joint Stock Company. This is a subsidiary of Kinh Bac Urban Development Corporation (KBC), specializing in developing key projects in the fields of transportation and urban development.

This is also the project proposed for investment by The Trump Organization - President Donald Trump's family corporation, according to the Memorandum of Understanding between the People's Committee of Hung Yen province and this corporation in the US at the end of September 2024. The Trump Corporation will develop the hotel, golf course and residential area project through a cooperation agreement with Hung Yen Hotel Services Company.

The Trump Organization has invested in and owned a series of hotels, golf courses, commercial real estate and housing across the United States, as well as in many countries around the world. In Asia, the Trump family's company has golf courses in Dubai (UAE), Indonesia, Oman and many real estates in Korea, Philippines, India.

Kinh Bac, together with its subsidiaries and affiliates, currently manages more than 5,000 hectares of industrial park land and 900 hectares of urban areas. The company said it has attracted more than $5 billion in foreign investment each year.

More than 60 km southeast of Hanoi, Hung Yen real estate market has continuously attracted "big guys" in recent times. Many investors have been present in this market such as Ecopark, Vinhomes, Masterise, CapitaLand... Last year, this province attracted nearly 4 billion USD of FDI capital, the highest ever.

VN (according to VnExpress)

Source: https://baohaiduong.vn/duyet-du-an-san-golf-khach-san-1-5-ty-usd-tap-doan-trump-de-xuat-o-hung-yen-411714.html