Trump Organization Enters Vietnam With $1.5 Billion Golf Resort Project Near Hanoi
A general view of the sign and exterior of Trump Tower entrance (Photo)
The Trump Organization—founded by billionaire and U.S. President Donald Trump—has partnered with a unit of Vietnam-listed Kinh Bac City Development Holding Corp. to build a $1.5 billion golf course, resort and residential estate in Hung Yen province, south of Hanoi.
'Hung Yen has the potential to become the premier destination for golf and luxury living in Asia,' Dang Thanh Tam, chairman of Kinh Bac City said in a statement released by the Trump Organization on Wednesday.
Set across a 990-hectare property along the Red River, the project will feature two Trump-branded golf courses designed by two-time U.S. Open champion Bryson DeChambeau, a five-star hotel, luxury villas and supporting amenities, according to the statement.
'Vietnam represents one of the most dynamic and promising markets in the world today,' Eric Trump, executive vice president of The Trump Organization and son of Donald Trump, said in the statement. 'We are incredibly proud to bring the Trump name to a country with such vision, vitality and growth.'
Eric Trump, a son of Donald Trump, was present during the groundbreaking ceremony held in Hung Yen yesterday. He and other Trump Organization executives are expected to be in Ho Chi Minh City today to discuss another potential project in Thu Thiem commercial hub, according to Vietnamese media reports.
The Trump Organization has licensed its name to dozens of Trump-branded properties, including golf courses, hotels, office towers and resorts, worldwide. The company is also developing two golf courses and hotels in Indonesia through a partnership with billionaire Hary Tanoesoedibjo's MNC Group.
Trump has an estimated net worth of $5.3 billion according to Forbes' real-time data, with much of his fortune coming from real estate.
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