Resort real estate is "evolving"

Along with the fierce competition and increasing demands from the visitors, resort real estate has gradually evolved to adapt to the market.


Intergrated Resort model is being interested by many Vietnamese investors


New game: "All in one"


After Sunshine Marina Nha Trang Bay Project on Tran Phu Street, Nha Trang (Khanh Hoa province), Sunshine Group continues to make its mark on Vietnam's resort map with the acquisition of Diamond Bay Project (Nha Trang City) from Hoan Cau. The official value of the deal was not announced, but to acquire the project with an area of nearly 300 hectares and a total investment capital of up to 4 billion USD, the number is probably not small.


However, the market's interest in this deal is not only the amount of money that Sunshine Group spends, but what the business will do with the project.


According to the original design, Diamond Bay Nha Trang will become the most beautiful and majestic beach resort city of Vietnam with about 15 resorts, more than 15,000 hotel rooms, resort apartments and 4,000 seaview villas, along with many other items such as golf courses, shopping malls, hospitals, schools and amusement parks...


According to the initial disclosure, after returning to Sunshine Group, this super project will have a new name as Sunshine Diamond Bay. The group will develop Sunshine Diamond Bay in the model of Intergated Resort - a 5-star complex complex with a view of Venice with Mediterranean architecture.


A model of Intergrated Resort abroad


Intergrated Resort (IR) is also the model that many Vietnamese real estate giants are aiming at in the expansion and development of their resort projects.


Although not much has been revealed about the new super project, the Sunshine Group representative said that the project fully converges the characteristics of the IR model and this trend is said to be booming in the world. This project is promoted with many 5-star facilities such as resort apartments, casino, marina, aquarium, theater, water music stage, infinity pool, private beach and a chain of bar - sky bars, restaurants...


Similar to Sunshine Group, Novaland is also one of the latest names to pursue the development of IR projects in Phan Thiet and Ba Ria - Vung Tau branded NovaWorld. In particular, the NovaWorld Phan Thiet project is up to 1,000 hectares, located in the Tien Thanh strait, one of the most beautiful beaches in Southeast Asia and about 150 km from Ho Chi Minh City.


The project combines various forms of entertainment, entertainment, "all in one" such as townhouses, villas, hotels, resorts and many other types such as high-class food courts, wild zoos, a 220-hectare complex sports center, including a 36-hole golf complex according to international standards and eligible to register for the PGA Tour (Professional Golfers' Association), indoor sports competition area, outdoors, stadiums, theme park clusters, water parks, children's parks…


"We expect to develop NovaWorld Phan Thiet into a perfect destination for relaxation and relaxation of families and tourists both domestically and internationally," said a representative of Novaland Group.


Power of "universal" destinations


Not until now, the pursuit of complex resort projects has just appeared, but since 2013, the resort real estate market of Vietnam has appeared a number of IR-oriented projects.


The Grand Ho Tram Strip (Ba Ria - Vung Tau), Laguna Lang Co (Thua Thien - Hue), or Hoiana (formerly Nam Hoi An Resort) are located along the southern coast of Cua Dai City, Hoi An, Quang Nam.


However, compared to the past, the factual report of the Real Estate Investment correspondent shows that, in the development strategy of many real estate businesses today, developing a complex resort model aimed at family members. Increasing the value of visitors' experiences is getting more attention from investors.


According to Nguyen Tri Huan, Head of Research Department at Collier International, the emergence of a complex resort model is rooted in an increasingly modern lifestyle in Vietnam. Investors do not now buy individual apartments or villas, they will buy the overall experience including space and utilities. Therefore, requiring investors to change according to the needs of guests, if not want to be left behind.


"The goal of IR-based resorts is to help customers not need to leave the place during their stay", Mr. Huan said, adding that this trend also helps limit the dispersion situation in transport infrastructure investment for localities. They create resonance effects with the surrounding small hotels and resorts, forming a lively tourist cluster, spreading impacts to the community, as well as enhance the tourism brand for the country.


Singapore has been very successful in planning two IR zones, Marina Bay Sands and Resorts World Sentosa - which attracts tens of millions of international visitors each year. Malaysia has Sunway Resort Hotel Spa and Sutera Harbor Resort. The US also has famous IRs, forcing guests to eagerly visit: The Venetian and Palazzo or Disneyworld.


Sharing the same view, Ms. Duong Thuy Dung, Senior Director of CBRE Vietnam, said that the average income of the Vietnamese people is increasing, the population base is large and the middle class is expanding, making projects IR is aimed not only at increasing foreign tourists but also inland.


"If I travel with the whole family, I would prefer IR because there are many types of entertainment there, meeting the needs of every family member" Ms. Dung said.


However, the experts also noted that, in order for the IR model to develop, it is necessary to build a business model supported by many other factors such as economic advantage, investment-related policies, jobs, taxes, tourism projects...


However, above all is a legal issue, because this is the basic foundation to bring confidence to investors, ensuring operational certainty. The IR model will be ineffective without a specific legal framework defining this model and meeting the development requirements of the service and tourism industry.


According to Ninh Viet