Yesterday, PHIGroup, Inc. released news that its subsidiary, PHILand Ranch Ltd., has submitted an updated implementation schedule to the Chu Lai Open Economic Zone Authority for its Pointe91 development project at Bien Rang, Vietnam. The company engages in the development of master-planned communities, residential and commercial properties, hospitality and healthcare services in Vietnam and Southeast Asia
The 120-acre Pointe91 development is located on an exclusive and majestic bluff overlooking the South China Sea. Pointe91 will offer exclusive luxury accommodations including 227 grand private residences in seven separate communities, an exclusive five-star beach hotel and spa and 30 detached premium residences that will be part of a private residence club. Additional amenities include a marina, hiking and walking trails, an outdoor amphitheater, pristine beaches, and a farmer’s market.
According to the updated plan, PHILand Ranch plans to complete the relocation program for the seven households still residing on the allotted land parcel by the end of November 2010. Construction of Phase One at Pointe91, which includes the entry gate, the guardhouse, the sales office, and model homes, is slated to begin by Christmas 2010. Phase Five, the final phase of the project, should be completed by Christmas 2013, which precedes the anticipated inauguration of the new expressway along the Quang Nam Province’s coastal corridor that connects Chu Lai and Hoi An (the UNESCO-designated tourist destination 40 miles north of Pointe91).
Henry Fahman, Chairman of PHILand Ranch, remarked, “We look forward to completing major milestones for the Pointe91 project in the coming months, taking into account all the important aspects including aesthetics, culture, technicalities, and economics to ensure a lasting success. We are also grateful to Marc Townsend, Managing Director of CBRE Vietnam, for providing us with up-to-date market information which is very instrumental for our continued development, sales and marketing efforts in Vietnam.”
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