Dai Nam to open $100mn racecourse in October

Tuesday, Aug 02, 2016 17:45

Staff from Dai Nam Group JSC check a horse for the racecourse in Binh Duong in October. — Photo cafef.vn

BINH DUONG (Biz Hub) — The Dai Nam Group JSC will open a racecourse costing US$100 million in the southern province of Binh Duong in October, a Dai Nam representative has said.

Construction of the racecourse, spanning 60ha, at the tourism park in the province 40km from inner HCM City, started last July.

It also includes a 30ha parking lot and a grandstand that can accommodate 50,000 to 60,000 people.

The Dai Nam representative said apart from horse racing it will also host dog racing, car racing, and motorcycle racing, in addition to water motorsports and all-terrain vehicle racing.

Dai Nam said it now has about 300 race horses ready to run on the racecourse,

Huynh Uy Dung, Chairman of the Dai Nam JSC said the racecourse will be a place for local and international visitors and become a home to discover and develop talented racers, but added that they would allow no gambling at the racecourse.

With the new project, Dai Nam expected to increase its visitors from the current two million to five million each year.

After the Phu Tho racecourse was replaced in HCM City in 2011 by a city sports centre, several racecourses were planned in Viet Nam. In June 2016, central Phu Yen province licensed the Australian Golden Turf Club Company to invest in a racecourse on an area of more than 134ha with investment of $100 million. The track is expected to be completed in 2019.

Southern Binh Phuoc Province also allowed the Australian Investment Group to construct a racecourse in the total area of 100ha, including a service and commercial centre and a healthcare and medical centre for elderly citizens, with initial capital expected at over $100 million.

The Central Highlands province of Lam Dong also approved a VND517 billion ($23 million) racecourse project from the Thien Ma Madagui Racing JSC in 2014 with the aim to attract more domestic and foreign tourists to the province. – VNS

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