Rang Dong Group has announced to begin a condominium project next month in its complex Sea Links Golf-Hotel-Villa in the coastal resort town of Phan Thiet to take another step into tourism property development in the south central province of Binh Thuan.
The developer says the Ocean Vista condo project will be situated on 8 hectares within the complex and feature six blocks of buildings with 557 luxury apartments from 80 to 250 square meters each. The project includes tennis court, swimming pool, café terrace, meeting room, spa, bar and fitness center.
Sea Links covers 170 hectares on which the group has developed 300 villas, an 18-hole golf course and a five-star hotel with 200 rooms.
The project owner has yet to announce apartment prices but says it will apply a method called ‘vacation ownership’ in which buyers can exchange their vacations to other resorts.
The project is considered a ‘condotel’, a condominium project operating as a hotel.
Rang Dong Group is deploying ‘vacation ownership’ for its villas in the complex by offering cards whose values are from US$12,000 to US$15,000 each. Card holders are yearly entitled to spend a week long holiday at the resort within 20 years, and they can exchange their vacations for one of 5,000 resorts in 100 countries through a room exchange network managed by Resort Condominium International.
Ocean Vista is scheduled to be up and running by September 2011.