At a function organized at Gem Centre in Ho Chi Minh city, Ho Tram Project Company Ltd. (HTP) introduced its newly-launched Kahuna Ho Tram Strip condotel and villa project.
Kahuna Ho Tram Strip is a 244-key resort development containing 164 one and two-bedroom condominiums as well as 8 penthouses located in a 12-story tower. Moreover, it will feature 36 double key villas and 8 beach front villas, which will be used for long-term lease.
Investment costs start from 2 billion VND for a one-bedroom standard unit to a significantly higher level of 9.11 billion VND for a penthouse. For a villa, the prices range from 8 billion VND to 20.5 billion VND. HTP guarantees a return of 8% per annum for two years of net lease cost. Following this, lessees benefit from a 60/40 net rental revenue share for the remaining eight years of the rental pool agreement. In addition, they enjoy 21 room nights per annum in the resort.
Kahuna has been designed by the leading architectural firm Korn Architects and international engineers OROCON, all based in Ho Chi Minh City. The resort takes its name from the legendary waves of Hawaii and captures the essences of a beachside holiday experience.
According to Michael Kelly, executive chairman of HTP, the condotel and villa development feature a design inspired by a luxury cruise liner with sleek nautical lines. The design also adopts an aquatic concept to highlight the origins of its name and its coastal location.
HTP has deployed and committed over US$1.1 billion of the total $4 billion investment for the Ho Tram Strip project. It represents the largest foreign-invested tourism development undertaken in Vietnam and is among the largest private equity investments in the country from the US.
In the future, HTP plans to build a private international airport in close proximity to Ho Tram Strip, which aims to further promote tourism to Vietnam. Meanwhile, other zones of the 164-hectare land parcel will accommodate such facilities as a Water Park, Amphitheatre, Wellness Centre, Theme Park, and many more attractions.
Speaking of the role of Ho Tram Strip in the foreseeable future, Kelly said: “We have made it our primary focus to ensure that Ho Tram Strip is Vietnam’s entertainment capital. This is not just another resort development. It is a chance to be part of all the energy that has made Ho Tram Strip what it is today.”