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Kings’ Valley Corporation to build five-star resorts

Kings’ Island golf course in Dong Mo.

Kings’ Valley Corporation and Hanwha Group from Korea are expected to start the construction of two five-star recreation complexes in Hanoi and Ho Chi Minh City next year, said Nguyen Thi Nga, Chairman and CEO of the Kings’ Valley Corporation.

She said the Hanwha Group, a leading group in the field of entertainment from the Republic of Korea, has recently signed an overall co-operation agreement valued at US $150 million with the Kings’ Valley Corporation.

“The first field of the co-operation project we will carry out is the construction of recreation centres throughout the country, firstly two-star resorts and golf courses in Hanoi and Ho Chi Minh City,” Mrs Nga said.

“If the clearance of the ground for the sites is going without any hitches, we will start the construction of the resorts in the second quarter of 2007 and the resorts will be completed two years later,” she added.

Kings’ Valley Corporation is the present investor and owner of the project of the International 36-hole Golf Course at Dong Mo, Son Tay, Ha Tay province. With two 18 hole-golf courses – Montainview and Lakesides – this project is considered one of the successful ones in Vietnam in the fields of tourism, sports and entertainment.

Hanwha is the top-ranking group in the Republic of Korea in the field of golf and entertainment investment. Annual net profit of Hanwha is US $1.3 billion and ranks the 5th as far as assets are concerned in Korea, just after SamSung, Hyundai, LG and SK.

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