There are a number of notable projects currently under different stages of planning and construction along the coastline of Da Nang and Hoi An while several projects remain in various pre-feasibility stages as the market continues to receive solid interest from developers, according to JLL’s “Vietnam: Spotlight on the Accommodation and Tourism Industry” report.

The soon-to-be-opened Sheraton Hoi Tam Ky Resort and the master-planned Hoiana integrated casino development that will include Vietnam’s first Rosewood hotel, both to the south of Hoi An, will further expand the length of the coastline accessible to visitors.

In addition to the forthcoming second casino, Hoi An’s credibility was further enhanced in late 2016 when the newly-rebranded Four Seasons Resort The Nam Hai, Hoi An, began welcoming guests, marking the group’s first foray into Vietnam.

Da Nang is the major economic hub in central Vietnam. Like Ho Chi Minh City and Hanoi, recent years have seen improved economic fortunes, predominantly driven by industrial manufacturing and production. The city is also slowly gaining a reputation for its tech-savvy workforce, with some referring to it as the Silicon Valley of Vietnam. Da Nang and the surrounding area are also one of the major resort destinations in Vietnam.

The area features a coastline of scenic beaches, including the famous My Khe Beach. There are three UNESCO World Heritage Sites located within 100 km of Da Nang: the 16th century silk route trading port of Hoi An, My Son Sanctuary, which features the remains of the ancient Cham civilization, as well as the former imperial city of Hue.

Other attractions in the area include Marble Mountains, Hai Van Pass, Son Tra Peninsula, and the Ba Na Hills resort area. Da Nang features numerous world-class golf courses, including Montgomerie Links, and a thriving casino connected to the Crowne Plaza hotel and forthcoming JW Marriott.

Da Nang and the adjacent province of Quang Nam have agreed to cooperate to develop into a major economic hub, with a focus on tourism. The two have also joined Thua Thien Hue province, of which Hue is the capital, in the “Three Localities, One Destination” program, promoting popular tourist products, natural attractions, and the historical and cultural heritage of the central region.

International airlift has grown substantially as Da Nang International Airport, freshly expanded with a new terminal opening in the first quarter of this year, gives it a capacity of approximately 6.5 million arrivals per year. The airport is the third largest in the country, after Noi Bai in Hanoi and Ton Son Nhat in Ho Chi Minh City.

The expanded airport is part of Da Nang’s preparations to host the 2017 Asia Pacific Economic Conference (APEC) Summit in November. “Hosting APEC will bring much focus to Vietnam’s stellar growth as one of Asia’s emerging economies, further promoting its MICE capabilities nationally,” according to the JLL report.

Source: JLL

VN Economic Times