Rockefeller firm plans US$2.5b Vietnam project

SINGAPORE/HANOI: Rose Rock Group, a Rockefeller family-backed alternative investment management firm, will help develop a US$2.5 billion (RM8.1 billion) residential and hotel project on the south central coast of Vietnam.

The Vung Ro Bay development, covering 200,000 sq m, will be developed with Vung Ro Petroleum Co, a Tuy Hoa, Phu Yen province-based oil company, according to a joint statement. The project will include 350 marina berths, hotels with more than 760 rooms, 4,300 residential apartments, 100 townhouses and retail shops.

“We look forward to making this development an outstanding and preferred destination in Asia-Pacific for visitors and a lifestyle choice for residents,” Collin Eckles, president at Rose Rock, said in the statement. — Bloomberg


This article first appeared in The Edge Financial Daily, on January 15, 2014.