Sa Pa, a tourist destination in northern Lao Cai province, has become amagnet for property developers, following projections that the number oftourists coming there would increase sharply.
The footfalls inthe urban tourism area have increased particularly after the opening ofthe Hanoi-Lao Cai expressway last September, which reduces the traveltime from Hanoi to Lao Cai from the current seven hours to 3.5 hours.
It was also backed up by Lao Cai's recent investment in upgrading infrastructure to promote tourism development.
The number of tourists coming to Sa Pa is expected to increase, but hotels and villas in Sa Pa might fail to meet the demand.
Accordingto the latest figures from the Lao Cai provincial tourism informationcentre, 126 businesses provide nearly 2,000 rooms and more than 3,600beds to tourists.
However, more than half of them are small hotels run by private enterprises.
During the last Tet (Lunar New Year) festival alone, Sa Pa welcomed more than 5,000 visitors.
In2014, it received 1.6 million tourists, proving that the tourismfacilities in Sa Pa are being overloaded, thus opening up opportunitiesfor property developers in this market.
Several giant firms haveentered the tourist property market and are stepping up their projects'progress to open them as early as possible.
In 2014, some majorprojects became operational in Sa Pa, such as the five-star AristoInternational Hotel and four-star U Sa Pa Hotel.
At present, about 30 investment projects are involved in the construction of residential areas and tourist facilities.
TheTruong Giang Sapa joint stock company is investing 1.2 trillion VND(55.8 million USD) in building Mercure Sapa Resort and Spa complex in SaPa. Its construction started in 2012 and is scheduled for completion inthe fourth quarter of this year.
Another giant firm ContreximHoldings also plans to open a five-star hotel in Sa Pa in July. Coveringmore than 7,000sq.m, the hotel comprises 58 rooms and provides a widerange of services such as bar, spa, indoor swimming pool and gym.
SaPa is expected to see several real estate projects in the coming time,such as a 27ha ecotourism project with an investment capital of nearly20 million USD, and the Sapa Indochina International hotel project withan investment capital of 170 billion VND (7.9 million USD), the People'sCommittee of Sa Pa town said.
Meanwhile, other giant firms suchas Vincom, Bitexco and Sun Group also plan to invest in entertainmentcentres and resorts in this destination.
A highly acclaimedBritish website providing tourist information and guides, Rough Guides,has listed Sa Pa among the top nine new tourist attractions around theworld.-VNA
The footfalls inthe urban tourism area have increased particularly after the opening ofthe Hanoi-Lao Cai expressway last September, which reduces the traveltime from Hanoi to Lao Cai from the current seven hours to 3.5 hours.
It was also backed up by Lao Cai's recent investment in upgrading infrastructure to promote tourism development.
The number of tourists coming to Sa Pa is expected to increase, but hotels and villas in Sa Pa might fail to meet the demand.
Accordingto the latest figures from the Lao Cai provincial tourism informationcentre, 126 businesses provide nearly 2,000 rooms and more than 3,600beds to tourists.
However, more than half of them are small hotels run by private enterprises.
During the last Tet (Lunar New Year) festival alone, Sa Pa welcomed more than 5,000 visitors.
In2014, it received 1.6 million tourists, proving that the tourismfacilities in Sa Pa are being overloaded, thus opening up opportunitiesfor property developers in this market.
Several giant firms haveentered the tourist property market and are stepping up their projects'progress to open them as early as possible.
In 2014, some majorprojects became operational in Sa Pa, such as the five-star AristoInternational Hotel and four-star U Sa Pa Hotel.
At present, about 30 investment projects are involved in the construction of residential areas and tourist facilities.
TheTruong Giang Sapa joint stock company is investing 1.2 trillion VND(55.8 million USD) in building Mercure Sapa Resort and Spa complex in SaPa. Its construction started in 2012 and is scheduled for completion inthe fourth quarter of this year.
Another giant firm ContreximHoldings also plans to open a five-star hotel in Sa Pa in July. Coveringmore than 7,000sq.m, the hotel comprises 58 rooms and provides a widerange of services such as bar, spa, indoor swimming pool and gym.
SaPa is expected to see several real estate projects in the coming time,such as a 27ha ecotourism project with an investment capital of nearly20 million USD, and the Sapa Indochina International hotel project withan investment capital of 170 billion VND (7.9 million USD), the People'sCommittee of Sa Pa town said.
Meanwhile, other giant firms suchas Vincom, Bitexco and Sun Group also plan to invest in entertainmentcentres and resorts in this destination.
A highly acclaimedBritish website providing tourist information and guides, Rough Guides,has listed Sa Pa among the top nine new tourist attractions around theworld.-VNA
