Customers visited the resort estate model of Minh Vien International Joint Stock Company. Photo: DUC QUANG

Starting from Chan May - Lang Co

According to the experts, resort estate (condotel) in tourism has developed worldwide for decades.

In Vietnam, this type has been developed by investors for a few years and continues to be heavily invested in Phu Quoc, Quang Ninh, Phan Thiet, Nha Trang, Da Nang, etc. and recently in Hue, Binh Dinh.

Tourism estate is viewed as a luxury “item”, but it has a large number of customers for its attraction, high profit and preserved capital.

Mr. Phan Quang Minh, the Exploitation and Development Director of Minh Vien International Tourism Zone, one of the major resort estate investors in Hue, judged that many people will not understand what resort estate is. In fact, this is the form that small investors cooperate, contribute capital with larger investors to jointly exploit and profit. Instead of "pouring" capital into the uncertain or less profitable investment channels, this is a long-term, sustainable, and profitable cooperation.

Although new to Hue, the resort estate has kicked off in Chan May - Lang Co Economic Zone. Mr. Phan Quang Minh said that Hue in general and Lang Co in particular are located on the Central Vietnam heritage road and have many advantages for tourism development. Lang Co Bay has a beautiful coastline, more than 60 km from Hue and about 20 km from Da Nang. Lang Co was honored to receive the title of “Lang Co - the world’s most beautiful Bay."

The stable number of tourists to Hue is a good condition for resort estate development. Photo: DUC QUANG

“We also know that Lang Co will develop into a sea tourism city including marine ecotourism, marine centers, coastal culture in association with forest ecotourism and high-class resort centers. That is the reason for investment and development of resort estate,”Mr. Phan Minh Quang said.

Laguna Lang Co is currently implementing the phase 2 of the Banyan Tree beach hill villa system and develops the casino category after raising the total investment to USD 2 billion. This resort complex includes hotels, spa services, an 18-hole golf course with many luxury facilities and high-class resort estate being offered to customers.

Thua Thien Hue tourism sector determined that Laguna, when completed, will give a great impetus to the resort estate development in the province.

In Chan May - Lang Co, the Mediterranean Resort is completing the final phase. This resort forms a "trio" of high-class, large-scale estate projects that can meet the diverse needs of domestic, foreign tourists and investors, thereby developing a vibrant tourism market and generating a motivation for attracting more new investors.

Vietnam Real Estate Association once judged that Hue is in the golden tourism belt of Central Vietnam, with a large and stable number of tourists. Therefore, the investors are still continuing investment in many large-scale projects covering the areas with marine tourism advantages. The system of large-scale and quality resort projects in Hue market is one of the crucial factors in promoting the development of this area.

Mr. Le Ngoc Sanh, Head of the Office of the Department of Tourism and Information, currently Chan May - Lang Co has been planned to become a National Tourist Area. Along with attracting investors, this area continues to be invested in infrastructure, laying a foundation for faster and stronger development, thereby connecting with Bach Ma - Chan May Port to form a growth " triangle ” in beach resort tourism, cultural tourism and ecotourism.

Laguna Lang Co has the first resort estate service in Hue. Photo: VAN DINH HUY

Hue’s opportunity

Currently Hue is endeavoring to solve the "scarcity" of standard resort facilities for guests to stay. This is also a solution for increasing the length of stay for which Hue tourism aims.

According to the forecasts, tourism estate will be an attractive investment channel in line with the demand trend of the new generation of tourists, the period associated with the 4.0 industrial revolution. Some investors said that Da Nang’s hasty development got the market to have signs of saturation. As a rule, development will progress towards both sides. If any side has good attraction, the stable number of tourists will be the future of tourist estate in Central Vietnam.

According to Mr. Phan Quang Minh, in the near future, the Lang Co area will be dynamic. Especially when more and more investors choose Chan May - Lang Co, there will form a chain of products, the precondition for creating a vibrant market.

“The Prime Minister issued the document to assign ministries, branches and localities to remove the mechanisms and policies for economic development including resort estate.

The difficulties and obstacles will be partly removed, helping the real estate market in Hue to have more opportunities for development. Besides, resort estate is also very clearly defined in the 2019 Law on Tourism, so this is a legal business market and contributes to diversifying Hue tourism in the future,” said Le Ngoc Sanh.

Story and photos: Quang Sang