Petrocapital and Infrastructure Investment JSC, or
Petroland, has said it will start building a four-star hotel in the southern
province of Tay Ninh this weekend, marking its first step into the hospitality
Bui Minh Chinh, general director of Petroland, told the Daily by phone on
Tuesday that the realty firm would invest some VND300 billion to develop the
Petroland Tay Ninh Hotel on Hoang Le Kha Street in the heart of Tay Ninh Town,
some 100 km from HCMC.
The project, covering some 1.2 hectares, is designed with two blocks of
18-storey buildings, including a 14,400-square-meter section for office space
and a section for the hotel with 144 guest rooms. Besides, there will be
serviced facilities for conference, restaurant, fitness center and spa among
Chinh said the company had seen potential in the hospitality market in the
province because there are few standard hotels there, and that business and
leisure travelers would be among the target guests for the forthcoming hotel
scheduled for completion by the third quarter of 2012.
Petroland, Chinh added, is mulling another property project in the southern
coast city of Vung Tau, some 125 km from HCMC.
The company will set aside some VND4,000 billion for this urban town development
on about 70 hectares. It will include sections for hotel, housing, and resort.
The project’s groundbreaking event is set for early next month.
The company is working on two projects in HCMC’s districts 2 and 7. When in
place by the fourth quarter next year, those projects will provide the market
with around 660 apartments, he said.
Established in 2007, Petroland is active in investment and construction fields
including housing, office and hotel projects, infrastructure development and