Singapore’s Banyan Tree to build $ 900 million resort on Central Vietnam beach

SINGAPORE, Aug 01, 2009. Singapore’s Banyan Tree, a developer of luxury resorts, said it will build a large resort near the historical Vietnamese city of Hue at an estimated cost of $ 900 million.

When fully developed, the 280-hectare beachfront resort will comprise seven hotels with a total of 2,000 rooms, a golf course, residences and convention facilities.

The first phase of the project, comprising two hotels, the golf course and residences, is expected to open in 2012 and will cost around $200 million, the Singapore firm said in a statement.

Banyan Tree manages or owns 26 hotels and resorts in Asia, most of them under the Banyan Tree and Angsana brandnames.

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