A road connecting Hanoi with Hung Yen Province. Photo by VnExpress/Pham Chieu
A 990-hectare urban, eco-tourism, and golf complex in the northern province of Hung Yen with a total investment of $1.5 billion has been approved for investment.
The project borders the Red River to the north and west. It comprises four areas, including a golf course featuring a 36-hole an 18-hole course, according to an approval signed by Deputy Prime Minister Tran Hong Ha.
It also has a residential area and theme park. Construction is scheduled between the second quarter and 2029.
Hung Yen authorities are tasked with selecting the developer and ensuring efficient land resource management. The Ministry of National Defense and Ministry of Public Security will guide local authorities and investors on defense and security matters, including the sale of housing to foreigners.
The project was proposed by a subsidiary of property developer Kinh Bac City and The Trump Organization, the conglomerate of President Donald Trump.
The Trump Organization owns and operates numerous hotels, golf courses, commercial real estate, and residential properties across the globally. In Asia, it has golf courses in Dubai, Indonesia, Oman, and properties in South Korea, the Philippines, and India.
Kinh Bac, along with its subsidiaries and affiliates, manages over 5,000 hectares of industrial zones and 900 hectares of urban areas, attracting more than $5 billion in foreign investment annually.
Located over 60 kilometers southeast of Hanoi, Hung Yen real estate market in recent years has drawn major developers like Ecopark, Vinhomes, Masterise, and CapitaLand. Last year, the province attracted nearly $4 billion in foreign direct investment, its highest ever.
