Canada developer pledges another $75 million for resort project in Vietnam

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Canada developer pledges another $75 million for resort project in Vietnam

Báo Thanh niên - 5/24/2016 4:13:45 PM

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Canada-incorporated Asian Coast Development Ltd. has pledged another US$75 million for a 400-acre resort and casino complex near the southern beach town of Vung Tau.

With the additional pledges, the Grand Ho Tram Strip's projected cost now exceeds $1 billion, according to a press release on Monday.

The pledges are for expanding the luxury complex to host 1,100 rooms, a double of its current capacity.

Backed by the US private hedge fund Harbinger Capital Partners, Asian Coast Development has developed the complex since 2007 through its wholly-owned subsidiary Ho Tram Project Company Ltd.

Its first phase was opened in 2013 with a 541-room hotel, restaurants, swimming pools and an 18-hole golf course.

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