ACDL Receives Amended Investment Certificate From The Government Of Vietnam
HO TRAM, Vietnam, April 4, 2013 /PRNewswire/ -- Asian Coast Development ( Canada) Ltd (ACDL) today announced the formal approval by the Government of Vietnam of all of ACDL's requested amendments to its Investment Certificate.
"This is a landmark day for the Ho Tram Strip," said ACDL Chief Executive Officer Lloyd Nathan. "We would like to extend our gratitude to the Government of Vietnam, the Ministries that have been involved in our amendment process, and to the leadership of the Province of Ba Ria-Vung Tau who have been extremely supportive throughout."
The Ho Tram Strip will ultimately include two integrated resorts with gaming facilities and an additional three five-star resorts, a Greg Norman designed championship golf course and other related real estate development, all set along a 2.2 kilometer beachfront 164 hectare site, located approximately two hours from Ho Chi Minh City.Construction of the first phase of the Company's first resort is complete. It includes 541 five star rooms and suites, world-class restaurants, gaming facilities, convention and meeting space, luxury retail, bars, an ultra-lounge, a spa, three swimming pools, beach facilities, and other leisure amenities. ACDL is also currently constructing Tower 2 of the first resort which will add an additional 559 five star rooms and suites. In addition, it is constructing an 18-hole Greg Norman designed championship golf course. "We are delighted and honored by today's confirmation of our Investment Certificate amendment application and look forward to moving ahead with our opening," said Mr. Nathan. "The resort is spectacular and we have a dynamic and energized team on site ready to welcome our guests to Vietnam's first integrated resort." About Asian Coast Development ( Canada) Limited: Asian Coast Development ( Canada) Ltd. (ACDL) is an international development company specializing in integrated resort destinations. ACDL, through its wholly-owned subsidiary Ho Tram Project Company Ltd, is the developer of the Ho Tram Strip, a group of integrated resorts to be located on more than 400 acres of land and more than two kilometers of pristine beach in Ho Tram, Vietnam and approved in an Investment Certificate issued by the Government of Vietnam. With a focus on providing a personalized blend of excitement and relaxation, the Ho Tram Strip will feature something for everyone, from lavish entertainment to premium shopping and exceptional recreational facilities. The first phase of its development will be Vietnam's first large scale integrated resort and ultimately will include an 1,100-room, five-star hotel, a world-class entertainment facility, restaurants, high-tech meeting space, an exclusive VIP area, a championship golf course, as well as a variety of beach-front recreation activities. Phase I of this development is scheduled to open in 2013. It will be the initial component of the largest integrated resort complex in Vietnam. For more information about ACDL, please visit www.asiancoastdevelopment.com.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts