“VSP1” Project Information

In terms of the project location the Government invited us to re-locate and move the project from Binh Phuoc Province back in May 2015, because of the Government’s 10-year master plan (2015-2025) to ensure that Vung Tau Province remains the leading Province in Vietnam in terms of being the number two social and economic investment hub (as Ho Chi Minh City) remains number 1.

Vung Tau Province is in the Southern Vietnam, to the northeast of the Mekong Delta, and it shares its border with Dong Nai Province to the north, and Binh Thuan Province to the east, Ho Chi Minh City to the west and East Sea to the south east, and is particularly well known for its beaches, and for its colonial-era architecture.

Vung Tau Province has the biggest beach resort area in South Vietnam (around 95kms from Ho Chi Minh City) and includes their major tourist attractions of the MGM-Ho Tram Strip Casino and nearby Greg Norman Golf Course, and the Vung Tau Greyhound Race Track.

Vung Tau is also well known for their petroleum, and electric power plants, which has the largest port area in Vietnam, where BHP Billiton is housed for their steel production plant.

Finally, in terms of FDI (foreign direct investment) into Vietnam, Ho Chi Minh City is No.1, followed by Vung Tau Province, then Hanoi (the Vietnam Capital City), etc., as Vung Tau Province FDI was US$922 million and accounted for around 26% of Vietnam’s total budget receipts.

The Department of Culture, Sports and Tourism of Ba Ria-Vung Tau Province reported that around of 15 million tourists visited the province in 2016, a year-on-year increase of 17% from 2015, with tourism turnover totaled VND1.8 trillion (US$86 million), up by 23% over the same period in 2015.

“VSP1” Estimated and Averaged Project Calculations & Conclusions including land acquisition & infrastructure costs (# proportionately based over 50 Years):

•    An International Horse Racing Complex, including a local standard 5 Star (8 Storey Hotel and casino/gaming lounge).
     Estimated cost: US$57,000,000.        Projected land usage of 56%: 77 Hectares.

•    An integrated commercial area (includes a shopping mall and sports areas).
     Estimated cost: US$9,530,000.       Projected land usage of 5%: 8 Hectares.

•     A residential development of up to 500 villas/condos.
      Estimated cost: US$68,880,000.     Projected land usage of 37%: 55 Hectares.

•     A sports centre facility.
      Estimated cost: US$9,500,000.       Projected land usage of 2%: 6.5 Hectares.                          

•     Project Infrastructure within the 146.5 Hectares including common areas, etc.
      Estimated cost: US$13,000,000.            Projected land usage: 29 Hectares.

Projected Estimated Cost= US$157,910,000-    Projected Land Usage=146.5 Hectares.

# Projected Infrastructure within the 146.5 Hectares including common areas, road
works, etc. of an Estimated cost of US$13,000,000 which is spread as a percentage within
all the project segments.