Northern Vietnam, Kinhbac City Development Holding Corporation (KBC) has announced a significant partnership with The Trump Organization to develop a massive $1.5 billion golf course and luxury hotel project. The collaboration marks one of the most ambitious foreign investment ventures in the region, emphasizing Vietnam’s increasing attractiveness to global investors, particularly in the tourism and hospitality sectors.
KBC, one of Vietnam’s most prominent real estate developers, confirmed in a statement on Tuesday that a memorandum of understanding (MoU) was signed between its subsidiary and The Trump Organization in late September 2024. The signing took place during the visit of Vietnamese President To Lam to the United States, signaling a deepening of economic and diplomatic ties between the two nations.
The proposed project will be located in northern Vietnam, a region that has increasingly become a hotspot for development, thanks to its proximity to the capital Hanoi and its growing tourism industry. The golf course and hotel are expected to cater to high-end clientele, capitalizing on the region’s natural beauty and rising status as a destination for international tourists and investors alike.
KBC, which has a solid track record of developing industrial zones, residential complexes, and commercial spaces across Vietnam, is positioning itself to become a major player in the country’s burgeoning tourism industry. The Trump Organization, led by former U.S. President Donald Trump, is renowned for its global portfolio of luxury hotels, resorts, and golf courses. This partnership represents a fusion of KBC’s local expertise with The Trump Organization’s brand prestige and global reach.
The $1.5 billion golf course and hotel complex will be one of the largest foreign-invested projects in Vietnam’s tourism sector.
- An 18-hole championship golf course: Designed to meet international standards, the golf course will cater to professional golfers and luxury tourists alike. With Vietnam already home to some of the best golf courses in Asia, this project aims to elevate the country’s profile as a premier golf destination.
- A five-star hotel and resort: The hotel will feature luxury rooms and suites, high-end dining options, a spa, conference centers, and other top-tier amenities to attract affluent tourists, business travelers, and international delegations. It will be positioned as a flagship destination for northern Vietnam’s tourism industry.
- Residential villas and condominiums: Alongside the hotel and golf course, the project will also include residential properties designed to offer an exclusive lifestyle for those seeking luxurious homes in one of Vietnam’s emerging economic hubs.
- Recreational facilities: The development will also incorporate a range of recreational facilities, including swimming pools, tennis courts, fitness centers, and wellness areas, making it a holistic destination for relaxation and leisure.
Vietnam’s economy has been on a steady rise, driven by a combination of industrial growth, a burgeoning middle class, and increasing foreign direct investment (FDI). The tourism industry, in particular, has emerged as a key pillar of economic growth, contributing around 9% of the country’s GDP before the COVID-19 pandemic. As Vietnam reopens its borders and revives its tourism industry, this partnership could not have come at a more opportune time.
The northern region of Vietnam, home to scenic landscapes and rich cultural heritage, is a prime location for tourism development. The decision to place the golf course and hotel complex in this region highlights its strategic importance, not just in terms of natural beauty but also proximity to Hanoi and its international airport.
The project also represents an alignment with Vietnam’s broader economic strategy. The Vietnamese government has been actively seeking to attract high-quality foreign investments, particularly in sectors such as real estate, tourism, and infrastructure. The partnership with The Trump Organization underscores Vietnam’s efforts to position itself as a favorable destination for foreign capital, particularly from the U.S., which has been a growing source of FDI in recent years.
The MoU was signed during a visit by President To Lam to the United States, highlighting the broader context of strengthening U.S.-Vietnam relations. The visit, which included high-level meetings between the two governments, aimed to deepen economic, trade, and diplomatic ties. The KBC-Trump partnership can be viewed as a testament to the success of these diplomatic efforts, underscoring the mutual benefits of cooperation between the two countries.
The U.S. has become an increasingly important trading partner for Vietnam, with bilateral trade reaching record highs. Vietnam’s strategic location in Southeast Asia, coupled with its fast-growing economy, makes it an attractive destination for American investors. The Trump Organization’s involvement in the northern Vietnam project adds a high-profile example of this growing economic engagement.
The Trump Organization, this project represents its continued expansion in Asia, a region where it has been actively exploring opportunities. Although the Trump brand has been synonymous with luxury real estate developments across the globe, its footprint in Asia, particularly in Southeast Asia, has been limited. This partnership with KBC, therefore, marks a significant entry into the Vietnamese market, a country with untapped potential for luxury real estate and tourism ventures.
