Rose Rock Group, a Rockefeller family-backed alternative investment management firm, will help develop a US$2.5 billion residential and hotel project on the south-central coast of Vietnam.
The Vung Ro Bay development covering 200,000 square metres (2.15 million square feet) will be developed with Vung Ro Petroleum Co, a Tuy Hoa, Phu Yen province-based oil company, according to a joint e-mailed statement on Tuesday. The project will include 350 marina berths, hotels with more than 760 rooms, 4,300 residential apartments, 100 townhouses and retail shops, according to the statement.
"We look forward to making this development an outstanding and preferred destination in the Asia-Pacific region for visitors and a lifestyle choice for residents," Collin Eckles, president at Rose Rock, said in the statement.
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