The upgrade is calledKing Palace project invested by Hoan Cau Da Lat company, an affiliate ofHoan Cau Group, at a total cost of 700 billion VND (32.6 million USD).
It stretches across 182,000 sq.m covering therestoration of Bao Dai Palace No. I premises, a nearby guest house area,a semicircle lake and garden.
New amenities include 27 villas of different kinds, a 500-800 seat restaurant-conference area and a hotel with 150-200 rooms.
InNovember 2014, the Hoan Cau Da Lat company splashed out 100 billion VND(4.6 million USD) on repairs in and outside the Palace in anticipationof the 2015 New Year holiday.
Situated in a romantic hillsurrounded by pine forests, Bao Dai Palace No. I, an ancient andmagnificent building, was built by a wealthy French official in 1940.Later in August 1949, Chief of State of the South Vietnam Bao Dai boughtthe villa and renovated it into a headquarters and workplace for hisofficials.
Under the Ngo Dinh Diem administration, thePalace served as a private Presidential residence. It was later used as aresting place for heads of state of the Saigon regime.
Afterthe fall of Saigon, the Palace was transferred to local enterprises fortourism purposes but proved ineffective. In the past ten years, thePalace has become dilapidated and is not benefitting local tourism.-VNA