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Billionaire Rockefeller Group invested US. $ 2.5 billion in Vung Ro Bay

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On January 14, in Hong Kong , The Vung Ro Petroleum Co. Ltd. ( Vung Ro Petroleum ) and Rose Rock Group, a group specializing in investment management and real estate developer founded by members of billionaire Rockefeller family, has signed a cooperation agreement for the implementation of Tourist complex and Resort at Vung Ro Bay ( Phu Yen province) .
With a total investment of US. $ 2.5 billion, the Project on Vung Ro Bay Complex Resort will be developed including 3 main areas, The Marina, The Villages and Bai Mon. Three areas will be connected by the 2.5 km walking trail called The Green Thread.
The Marina is the gateway of Vung Ro Bay area and is considered the leading destinations with marina of 350 parking spaces, coastal hotels and shopping malls, bars and restaurants along the coast.
The Village Park located at the center will provide the majority of apartments for rent. Besides, a shopping street, 650 meters long, will be put into operation to serve the needs of guests.
Mon beach area with fine white sand beach will be a sea relaxation resort combined with various types of abundant water sports and many luxury hotels stretching 400 meters along the beach.
According to the design, the project of Vung Ro Bay complex Resort will focus on the elements of sustainable development as well as on creating a prosperous environment for education, health, lifestyle and culture. At the nose bay area, it will build the hotels with total of 760 rooms, 4,300 apartments, 100 luxury town houses, shopping stores and a marina with 350 parking spaces.
The total commercial area is of ​​approximately 200,000 m2, including space for schools, health care facilities, retail centers and entertainment areas. Vung Ro Bay project has won the international award - a silver medal MIPIM 2013 (at International Real Estate Expo 2013).
Mr. Kirill Korolev, CEO of Vung Ro Petroleum Ltd. said that the cooperation with Rose Rock Group Corporation, a big capacity and trusted partner will help the project to be deployed more quickly and successfully. "We have plan taking advantage of the natural beauty available in Vung Ro to create a dynamic community and bring local and foreign tourists in reaching a world-class destination," confirmed Mr. Kirill Korolev.
Mr. Collin Eckles, Executive Director of Rose Rock Group, said that the cooperation with Vung Ro Petroleum will develop Vung Ro Bay project to turn this place into an outstanding destination, the most popular area by visitors and of residents who prefer life style of Asia - Pacific. "With a global network, we will bring to resort a unique and rich area to create tremendous value, and add value to Vietnam's tourism industry," said Mr. Collin Eckles.
Mr. Kirill Korolev more sharing, Vietnam is fast becoming and attractive destination for investment, residence and travel." We found that Vietnam is a country with a lot of dynamic investment opportunities and diversified economy with high growth rates in the world. With the solid foundation element and ideal population structure, Vietnam will become an attractive destination for investors", said  Mr. Kirill Korolev.
Reportedly, Vung Ro petroleum Co., Ltd. will invest about US. $ 4 billion in project on construction of petrochemical complex and sea port in Phu Yen province. The project has a capacity of 8 million tons / year, producing all kinds of petroleum products. The project is located in Hoa Tam Industrial Zone, South of Phu Yen economic zone .
Source: Investment Review online

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