A signing ceremony between Eric Trump (L) – executive vice president of The Trump Organization – and Dang Thanh Tam (R) – chairman of Kinh Bac City, witnessed by former U.S. President Donald Trump, on Sep. 25, 2024, in Florida, U.S. Photo courtesy of Kinh Bac City
The Trump Organization is set to develop a $1.5 billion golf, hotel and residence complex in the northern province of Hung Yen through a partnership with a local firm.
The American property developer has established a partnership with a subsidiary of industrial real estate developer Kinh Bac City to develop the project, the latter said in a statement Tuesday.
Hung Yen authorities have signed a memorandum with The Trump Organization on Sep. 25, the statement added.
It quoted Eric Trump, the third son of former U.S. President Donald Trump, as saying that Vietnam has potential for the development of high-end hotel and entertainment projects.
The Trump Organization operates resorts and golf courses in the U.S and several other countries including the UAE, Indonesia, South Korea, the Philippines, and India.
Kinh Bac City and its affiliates operates over 5,000 hectares of industrial land and 900 hectares of urban residential land. The company says it attracts over $5 billion of foreign investment each year.
Hung Yen official last month said they welcomed The Trump Organization as it was looking for potential investments.
The province is focusing on developing infrastructure, especially for transport, industry and housing, and would provide favorable conditions within legal framework to support the company, they added.
From: VnexPress
Real Estate News
