Resort real estate is still hot

Mr. Huynh Minh Bac – Chairman of the Board and General Director of Global ICC Joint Stock Company agreed to have an interview with the Construction Market and Contractor Magazine’s reporter.

Today, resort real estate is trading list of villas, high-grade relaxing departments, especially golf ground. This is the favorite model due to the villas which are designed in association with conforming work items and friendly with nature. In conversation with the Construction Market and Contractor Magazine, Mr Huynh Minh Bac – Chairman of the Board and General Director of Global ICC Joint Stock Company (GICC) – the contractor of the project on Ganesa Villas Resort & Golf Club, said that:

In the developed countries, business model of resort real estate has developed since 1960s, considered as the real estate model developing dynamic and making profitable for the contractors, the wave of this tendency is spreading all over the developing countries.

In these countries, markets are very fresh and potential, the number of the rich and many great successes achieved businesses is increasing due to the strong economic growth, who always wants to enjoy the perfect life experiences. Being the senior real estate contractor, we early carried out a survey and analysis about resort real estate market segmentation since 2007.

Tourist’s of tourists’ tendency has many regular changes. Instead of staying in the hotels, the tourists have a tendency to stay in the special villas in luxurious resort areas to enjoy fresh air and close to the nature.

How do you assess the resort real estate segmentation in Vietnam?

In my opinion, resort real estate market in Vietnam is really potential. With our natural landscapes, spreading beaches, mountain scenery, diversified culture with traditional character, Vietnam is assessed the new prominent and important economy in Asia. All of them are the great advantages for us to develop real estate in resorts. The United Nations World Tourism Organization predicted that Vietnam would be one of the top ten countries strongly developed tourism in the period 2005 – 2015. When the tourist develops, the real estate market share in resorts will grow strongly.

Today, resort real estate is trading in villas, high-grade relaxing departments, especially associated with golf ground, which is the favorite model...

Ninh Thuan from previous until now is considered as the short-time and common tourist destination, it is not the favorite destination for the high-grade tourists. So is it risk to invest in there?  

From my point of view, that judgment is not accurate. With the advantage of lying in the tourist triangle developing strongly in the Middle-south littoral area, with tropical climate, imposing nature, and national tendency on developing socio-economy investing robustly in traffic infrastructure, in sea service in this area; with the advantage of short distance to Cam Ranh international airport, Ba Ngoi – Cam Ranh international seaport invested to upgrade more modern by the Government; North – South High railway from Ho Chi Minh city to Nha Trang is planed to the Government’s investment and development plan in the near future. All of these factors will make this area to become the most prosperous developing area in the 10 coming year. These advantages are also the add-point to the investment projects in real estate in high-grade resorts here.

It is proved through Ninh Thuan Investment promotion conference on October 2009, attracting over 23,000 billion dongs investment in this area. In which, some projects on tourism real estate has granted the certificate of investment, promising face change and taking tourism and Ninh Thuan tourism real estate to the new class, and taking Ninh Thuan become one of the top ten of the most prosperous provinces in Vietnam in the near future.

The Ganesa Villas Resort & Golf Club project in Ninh Thuan is concentrating on developing to form the list of high-grade tourism real estate products, not only for supply but also for stable development orientation and increase profits for shareholders of GICC.

So in the concrete case, Ganesa Villas Resort & Golf Club project which GICC is investing in, what is the difference to bring more advantages ?

The project is carrying out on Ba Tri – Ma Trai plain, 146m height above sea level. This is the area the real estate businesses in resorts assessed the potential developing area. The project has total 245,5 ha area with 415 high-grade villas including 1 or 2 floors and about 700 – 2.500 m² ground area, with the modern European character but remaining Vietnam traditional beauty.  The resort will create the special and separate landscape area making landscape value for whole area attracting tourists.  Here is the division of sport, tourist, healthy entertainment, raising cultural life, meeting the demand of sightseeing tour and entertainment learning of domestic ad international tourists.

Thank you very much!

Thoi Dai

Resource: The Construction Market and Contractor Magazine No 01&02/2011