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Vietnam Business » Vietnam Real Estate Market News » Hyatt Regency Da Nang Resort and Spa of Indochina Land

Hyatt Regency Da Nang Resort and Spa of Indochina Land

Peter Ryder, CEO and co-chairman of Indochina Capital, the parent company of Indochina Land, said the central coastal region surrounding Da Nang had always been a strategic investment location for Indochina Land.

Indochina Land and Vietcombank signed on Saturday an agreement for a US$39 million loan to fund development of the Hyatt Regency Da Nang Resort and Spa.

The $120 million resort and residential complex is located on a 20-ha site along Non Nuoc Beach, named by the USs Forbes magazine as one of the worlds 10 most beautiful beaches.

The complex, developed by Indochina Land and managed by Hyatt Hotels and Resorts, will comprise a 200-room five-star hotel and 174 high-end condominiums and 27 three-bedroom villas for sale.

After the $60-million Nam Hai Resort in Quang Nam, Indochina Land has developed a number of properties in the region at a total cost of around $300 million. These include the 18-hole Montgomerie Links Viet Nam golf course and the Indochina Riverside Towers, a commercial, office and residential complex in the heart of Da Nang.

In addition to the $39 million medium - and long-term loan, Vietcombank has also agreed to provide a working capital facility to fund the resorts future operations, said Nguyen Thi Thanh Ha, director of Vietcombanks Da Nang branch.

Vietnam Business And Financial News Network. Source [infotv.vn]

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