KN Paradise Cam Ranh has announced it has upped its investment for the development of an integrated resort due to changes in the structure and standards of construction items.
Vietnam.- The KN Paradise Cam Ranh beach resort has announced an increase in its original investment budget to around US$2.1bn. The company said there had been changes in the structure and investment standards of construction items that led to an increase in the original calculations.
Last February, the Vietnamese government issued an investment certificate to the KN Paradise Cam Ranh beach resort, allowing it to develop a “large-scale casino complex”.
The investment certificate allowed the company to develop a casino complex with an aggregate area of 16.2 hectares (40.0 acres). The gaming venue can offer 200 gaming tables and 2,000 electronic gaming machines. The company originally planned to invest around US$172m.
The proposed resort would cover more than 800 hectares of land in Cam Ranh, and the firm’s plan includes extensive real estate development: a wide range of hospitality and residential properties; entertainment facilities; shops; amusement parks; and convention space.