Phu Quoc – potential real estate tourism market in 2019

Hanoi (VNA) – Phu Quoc island district in the southern province of Kien Giang has a lucrative tourism market and lots of potential in the real estate market for tourism and resorts.

This has opened up numerous opportunities for investors who want to do business in tourism on the pearl island.

Last year was a successful year for the Vietnamese tourism industry, as the country welcomed a record number of nearly 15.5 million international tourists.

From the beginning to the end of the year, the real estate tourism and resort market saw vigorous development in key areas such as Ha Long (Quang Ninh) and Phu Quoc.

Mauro Gasparotti, Director at Savills Hotels Asia Pacific, said the firm has a positive outlook for Vietnam’s real estate resort market in 2019.

Meanwhile, Nguyen Van Dinh, Vice Chairman of Vietnam Real Estate Brokerage Association, expressed confidence the number of transactions for real estate resort products in 2019 will surpass 2018’s figure.

The areas with the highest rate of new products will be Phu Quoc and Quang Ninh, he said, adding that Phu Quoc is expected to continue drawing investment thanks to its tourism growth.

The links between international air routes from European and Asian countries and domestic routes, and the connection from the mainland to Phu Quoc through high-speed ferries has helped attract a lot of foreign visitors to the island.

Notably, high-quality tourism products such as five-star hotels and the Sun World Hon Thom Nature Park entertainment complex with the world’s longest cable car system have boosted the island’s tourism growth.

The launch of Boutique Shophouse Melodia of Sun Premier Village Kem Beach Resort project in late November 2018 also made helped by providing various kinds of tourism services.

As a result, in 2018, Phu Quoc welcomed more than 4 million tourists, a year-on-year rise of some 36 percent.

Located 46km from the mainland, Phu Quoc is famous for pearl farming, fish sauce, pepper and “ruou sim”, a wine made from sim fruit or Rose Myrtle.

A variety of tours are provided for travellers, such as scuba diving, coral reef snorkeling, fishing and tours to visit traditional fish sauce making establishments, pearl farms, Ham Ninh fishing village, Phu Quoc National Park, pristine beaches and many more.-VNA