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The Real Estate Market In Phu Quoc Develops Strongly

Phu Quoc Resort Real Estate

Becoming strongly thanks to the key project such as vacation property complex in Bai Khem, Mu Ong Doi, cable car system across the sea and Bai Thom entertainment… Phu Quoc property market gradually becomes hot spot attracting investment.

In the recent time, the land investment in Phu Quoc and resort investment sector suddenly become the wave of real estate market in Vietnam.

The long-term goal of Phu Quoc property

In 2004, Phu Quoc was construction planning to become the main tourism center in Phu Quoc island economy. It is located in the southwest of the country and situated in the Thailand Bay with stable weather conditions, it takes about 1 to 2 hours of the flight time to move the big cities… Phu Quoc has ideal conditions to become the large tourism center.

At the Conference “Phu Quoc Meeting 2016” was held by Vietnam Tourism Real Estate Association on 15th of January, 2016, many the representatives of the local government have shown strong potential and opportunities of Phu Quoc, especially resort tourism field.

Real estate segment is changing

After 5 years of enticing infrastructure investment, currently, Phu Quoc has completed a diverse infrastructure works with an investment capital of thousands of billion dong such as Phu Quoc international airport, national power cable routes, a series of the resort projects, 4-5-star hotels which have gone into operation such as Novotel Resort & Hotel of CEO Group, Vinpearl of Vingroup Corporation,…

This is the golden chance for Phu Quoc tourism as well as other real estate resort projects

More than 24 projects have gone into operation with a total investment of about 25830 billion dongs representing a total capacity of about 1280 hectares of land; with 23 projects having been constructed with a total investment of 25371 billion dongs and the Land Fund of 752 ha.

The leader of Phu Quoc district said, with the aim of planning to 2020-2030, Phu Quoc has a diversity of conditions to develop, especially the 5th  process will be the breakthrough phase of Phu Quoc. Thus, by 2020, Phu Quoc will become the special economic zone.

Reportedly, Phu Quoc will focus on three main objectives: infrastructure investment, garbage, and wastewater disposal; human resources training for the tourism industry; Phu Quoc green, clean and beautiful development.

The huge capital that investors invested in Phu Quoc real estate market.

Up to now, Phu Quoc has the strong attraction with many investors and becomes the large resort real estate market of tourism. Now, there are 230 registered investment projects on this island. Accordingly, there are 164 projects having been licensed the investment certificates with the total registered capital up to 183 trillion dongs (about $8 billion).

Phu Quoc Resort Real Estate
Phu Quoc – The choice of many investors

With more than 20 trillion dongs invested in Ngoc Island, projects of Sun Group are being rushed. For example, the project of resort hotel J.W Marriott Phu Quoc Emerald Bay Resort and Spa are expected to serve tourists in the third quarter of this year.

Specifically, Phu Quoc is bearing a high speed and strong economic slightly high. According to leaders of Phu Quoc district, the average growth rate is about 27.5%, and in 2015 it will grow to 32.6%. At the same time, GDP per capita reached $ 5469. And the aspect of tourism, agriculture, fisheries … is highly strong.

Visitors to Phu Quoc average increase of 13%, in 2015 international visitors to Phu Quoc reached 150000. Mobilization of social investment reached about 16000 billion, compared with 2010 nearly 5 times.

Phu Quoc became the playground of the leading real estate brands

However, with the emergence of large investors such as BIM Group, Sun Group or Vingroup recently, Phu Quoc has become a trillion dollar site with projects of global stature and scale meet the international standards for the quality of luxury resort infrastructure.

Especially, 2016 is considered that a year of accelerated property market resort here. Speaking at the conference “2016 Resort Real Estate: Potentials and Challenges” Ms. Duong Thuy Dung – Director of Research and Development Consultancy of CBRE Vietnam said, “The growth rate of tourists in Resort area is very satisfactory.

Visitors to Nha Trang, Da Nang, and Phu Quoc sites have increased dramatically each year with high tourism spending, especially spending for 4-5-star tourism service. Therefore, the occupancy rate in the 4-star and 5-star resorts in Phu Quoc is over to 90%. That is why the segment of resorts will have breakthrough development in 2016.

One of the key projects that are highly appreciated by the market experts for bringing the new level to Phu Quoc island is the Phu Quoc Marina project of BIM Group.

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The Real Estate Market In Phu Quoc Develops Strongly
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