Tanzanite Enters Vietnam Real Estate Market

Singapore-based Tanzanite International has announced a plan to invest up to $500 million in a hospitality real estate project in southern Vietnam.

The firm will develop a high-end hospitality real estate project in Ba Ria – Vung Tau, which is a 1.5 hour drive from Ho Chi Minh City.

Phase one will cost $80 million and break ground in mid-2016.

Tanzanite has now invested in 37 hectares of land along the beach in the Ho Tram Strip.

FDI approvals for property projects in Vietnam reached $2.13 billion in the first ten months of this year, accounting for 11.1 percent of the total FDI.

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