Hanoi (VNA) – Vice Chairman of the Vietnam Real Estate Association (VNREA) NguyenManh Ha has stated that there is still room for resort real estate to develop,especially in new markets.

In thenorth, Hai Phong and Quang Ninh have attracted the most number of resortproperty developers with their strengths in sea services. Their real estateproducts are mostly condotels and resorts.

Ha Longcity in Quang Ninh province has emerged as a resort paradise with majorinvestors pouring trillions of Vietnamese dong into projects such as SunPremier Village Ha Long Bay and the FLC Ha Long Bay Golf Club & LuxuryResort. A number of projects are on the waiting list, which is expected to fuelthe local tourism real estate market in the near future.

A wave ofresort property development has spread to provinces with favourablegeographical location and attractive landscapes such as Vinh Phuc, Phu Tho, HoaBinh, Ninh Binh, among others.

Thanks tointernal and inter-provincial transportation connectivity and the high demandfor resort services in the south, markets in Long An, Dong Nai, Can Tho, Ba Ria-VungTau and Binh Thuan are thriving – with Ba Ria-Vung Tau notably developing aseries of large-scale projects.

Majorinvestors such as Tuan Chau, FLC, and Novaland are seeking land for superluxury resorts stretching hundreds of ha. In particular, Novaland plans todevelop a resort in Can Tho, another covering nearly 1,800 ha in Mui Ne, and theNova Hills resort in Phan Thiet.

Commentingon the prospect of resort real estate market, VNREA Chairman Nguyen Tran Namsaid this segment needs to be developed to meet accommodation demands. –VNA