The general meeting of shareholders of Kinh Bac City Development Corporation (HoSE: KBC) on June 28 revealed new details about the ambitious $1.5 billion Khoai Chau golf and resort complex in Hung Yen Province, and its connection to the Trump Organization.
Nguyen Thi Thu Huong, KBC’s CEO, chaired the meeting and invited Charles Boyd-Bowman, a representative of the project—branded as Trump International Hung Yen—to speak at the event.
The Khoai Chau project spans 888.52 hectares and represents a total investment of $1.5 billion. It is part of a strategic partnership between Kinh Bac and the Trump Organization, aimed at developing Vietnam’s first Trump-branded integrated complex of golf courses, luxury villas, and resort facilities.
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According to Boyd-Bowman, the project is progressing on schedule and aligns with the collaboration among the development, legal, and commercial teams. He emphasized that project management has been effective to date. Importantly, the Trump Organization’s role will focus on managing the project after its completion.
This clarification is consistent with other official information. Project brochures note that Trump International Hung Yen is not owned, developed, or sold by Donald Trump, the Trump Organization, or any of their affiliates. The project’s investor and developer is Hung Yen Hospitality Services JSC, a subsidiary of KBC.
On KBC’s website, Chairman Dang Thanh Tam affirmed that, given Kinh Bac’s ongoing projects valued at over VND 80 trillion (approximately $3.1 billion), an additional VND 40 trillion (around $1.5 billion) golf resort project is well within the group’s capacity. He noted that IDG Capital is ready to act as the financial arranger and co-investor, and that funding for the project is not a concern, as it is considered highly feasible.
Tam also highlighted that the number of international manufacturers leasing industrial land from KBC—particularly from countries like South Korea and Japan—is steadily increasing. Many of these investors are avid golfers, making the development of a high-end golf resort a strategic move that not only enhances KBC’s appeal but also provides premium services for its industrial park clients.
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Source: Vietnam Insider