Nam Tien Lao Cai Corporation (Naticorp) and Thailand’s InVision Hospitality signed a management agreement for the Scenia Bay condotel project in Nha Trang City on Tuesday.

The Thai company will be responsible for all the operations of the project when it becomes operational in 2020.

Located on Pham Van Dong Street in Nha Trang Beach City, the five-star condotel is built on a total area of 7,666sq.m. It has 40 floors with 700 condos for sale and some 270 hotel rooms.

The project is on prime location with the main side adjacent to Nha Trang beach, besides having easy access to the city’s beautiful landscapes, such as Hon Mun, Hon Tam, Ninh Van Bay, Po Nagar Cham Tower, Hon Chong, Dam Market and Turtle Island.

“Scenia Bay is the first project marking the company’s foray into the hospitality sector, after a chain of residential projects in Lao Cai,” Cao Thi Thu Hien, CEO of Nam Tien Lao Cai Corp, said.

Hien expects Scenia Bay to become an attractive resort property in the Nha Trang market.

Headquartered in northern Lao Cai City, and with over 20 years of operation, Nam Tien Lao Cai Corp has expanded its businesses from infrastructure construction and hydro-power plants to chemicals and real estate sectors with an annual turnover of VND1.2 trillion (US$53 million).

With a portfolio of 13 properties under management in Thailand, Malaysia and Viet Nam, InVision Hospitality provides strategy and management for new or existing hospitality projects throughout Southeast Asia. It is managing five properties in Viet Nam, including Mai House Saigon, Mai House Hoi An Beach, GLOW Ma Belle Da Nang, GLOW Premier Nha Trang and Montgomerie Links Da Nang. — VNS