EV maker VinFast plans $140 mln hotel undertaking in northern Vietnam

VinFast, an electric vehicle maker under Vietnam’s private conglomerate Vingroup, seeks to build a resort-recreation-park project worth VND3.5 trillion ($137.5 million) in the northern coastal city of Hai Phong.

The project is located on Cai Trap island within the Dinh Vu-Cat Hai Economic Zone in Hai Phong city. The economic zone is also home to VinFast’s 335-hectare EV factory.

According to a project report, the property project received an in-principle nod from Hai Phong authorities in 2019, and an approval for the 1-to-500 ratio blueprint in May 2020.

Covering 139 hectares, it will feature 66.6 hectares for resort, 111.4 hectares for a park and trees, 28 hectares for transport infrastructure, 97.5 hectares for service areas, and the remaining for trees, wharves, water surface, and technical infrastructure.

For the resort section, the project has 308 units, including 306 two-floor buildings and two 12-floor buildings. Once completed, it can host 2,750 residential citizens and 7,000 daily tourists.

VinFast aims to build the complex from March 2025 to February 2027, run trial operation in March-September 2027, and start official operation from September 2027.