Vietnamese Developer Sun Group to Build $2B Integrated Resort in Quang Ninh Province
Vietnamese real estate and infrastructure developer Sun Group has been granted approval to move forward with a major integrated resort project in Quang Ninh Province valued at US$2 billion. The approval comes from both the Prime Minister and provincial authorities, allowing Sun Group's subsidiary Don Sun Joint Stock Company to oversee the development.
LISTEN TO THIS ARTICLE:The large-scale resort will be constructed on a 244.5-hectare site, with 182.4 hectares allocated for the project itself and the remaining 62.1 hectares designated for natural forest preservation. It will include a casino component with provisions for locals gaming, marking a significant development in Vietnam's evolving casino landscape.
Related: Vietnam Proposal Would Expand Local Gambling Pilot, Add New ConditionsThis comes amid discussions of revamping the country's pilot program for local participation in gaming, which initially launched with strict requirements and limited availability. The decision to include local access aligns with Vietnam's consideration of adjustments to the original scheme, particularly the potential adoption of an entry levy system in place of the former financial stability requirements.
The Ministry of Finance previously submitted the proposal for the Quang Ninh project, which later gained in-principle support from Prime Minister Pham Minh Chinh. This backing cleared the way for the Provincial People's Committee to formally issue its approval to Sun Group, ensuring that the project can proceed with government oversight and regulatory compliance.
The new resort is planned to include a variety of facilities beyond gaming. Designs call for hotels, apartments, condominiums, and commercial townhouses, alongside retail outlets, office spaces, and conference centers. The scale of the project is expected to establish it as a central hub for tourism and business in Quang Ninh, further boosting the province's reputation as one of Vietnam's leading destinations for both leisure and investment.
The development is expected to roll out in three distinct phases. However, exact timelines for construction and completion have not yet been specified.
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Rolled-out Approach Allows for Less Financial Pressure
Earlier reports indicated that the initial phase will involve an investment of VND25.1 trillion (US$964 million), followed by VND22.1 trillion (US$849 million) for the second phase and VND4.3 trillion (US$165 million) for the final stage. This phased approach will allow for gradual expansion of the resort's facilities and services while meeting regulatory and market demands over time.
Vietnam's first pilot program permitting local residents to gamble was launched exclusively at the Corona Resort & Casino on Phu Quoc Island. That program, however, was disrupted by the COVID-19 pandemic and officially ended in early 2025.
Since its closure, policymakers have been considering revisions to the framework, with speculation pointing to a broader implementation that could involve entry fees as a control measure rather than requiring proof of income or financial stability.
For Sun Group, the Quang Ninh resort represents an expansion of its already significant footprint in the province. The developer has been behind several major infrastructure and tourism projects in the region, including Van Don International Airport, Ha Long International Passenger Port, the Ha Long-Van Don Expressway, the Van Don-Mong Cai Expressway and the Sun World Ha Long entertainment complex.
These projects have contributed to positioning Quang Ninh as both a tourism hub and a gateway for international visitors to Vietnam.
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