PPC An Thinh Vietnam Investment and Infrastructure Joint Stock Company, or PPCAT as it is better known, started out as a developer of suburban industrial zones 20 years ago. It was established in 1996 as An Thinh Construction Investment.
Today, PPCAT is one of Vietnam’s top players in the industrial property market. Its projects include the 271ha Binh Xuyen industrial park in Vinh Phuc provice, the 201ha Yen Quang industrial park in Hoa Binh province, and the 211ha Dong Que Son industrial zone in Quang Nam province.
Some of the world-renowned companies that operate from PPCAT’s industrial developments include Italian scooter company Piaggio and Hong Kong’s leading garment manufacturer Gernton.
Wyndham Soleil Danang features a coral-inspired façade, and will be the tallest hotel in Danang when completed
According to Nguyen Khang Chien, chairman of PPCAT’s board of directors, the key to the company’s success is customer satisfaction. “We work relentlessly to bring the best service to our customers,” says Nguyen. “And we listen to customer feedback and respond as soon as we can.”
Perhaps it is this relentless aim to achieve quality service “to touch people’s lives positively” and leave a legacy that propelled PPCAT into the lifestyle and luxury hotel business.
Foray into golf courses
Anecdotally, it started when Nguyen observed that with rising affluence, more Vietnamese were taking up golf. More international celebrity golfers were also visiting Vietnam. That was when PPCAT began investing in resort developments with golf courses. To set it apart from the others, the company formed partnerships with “world-class brands” to provide international- standard services at their golf courses, says Nguyen.
PPCAT’s two resort projects with golf courses are in Tam Dao District, Vinh Phuc province, famous for its mountains and lakes, 60km north of Hanoi.
One of PPCAT’s golf course projects is the 158ha Ban Long Golf Course, which has a picturesque 36-hole course overlooking Ban Long Lake and the mountains beyond.
Another project owned by PPCAT in Vinh Phuc province is the 275ha, 54-hole Gia Khau Golf Course, located in Trung My Commune in Binh Xuyen District, adjacent to La Khau Lake.
Meanwhile, PPCAT is developing a 36-hole golf course on a 200ha site within the 500ha Bao Ninh luxury resort in Quang Binh province. The province, located in the upper middle region of Vietnam — between Hanoi and Ho Chi Minh City — is famed for the Hang Son Doong river caves.
PPCAT is also developing its flagship An Thinh hotel and office complex located southwest of Hanoi Centre. The 19-storey development sits on a 1,190 sq m site and is slated for completion this year.
Tallest hotel in Danang
To build on its growing success, PPCAT decided to embark on a luxury hotel and residences development in Danang, with Wyndham Hotel Group as its partner. Wyndham has nearly 8,000 hotels worldwide, and the development in Danang will feature its upscale Wyndham Hotels and Resorts brand.
“With airport improvements underway, as well as its proximity to scenic beaches and Unesco World Heritage sites, Danang is a market poised for great growth in a country popular with world travellers,” says Barry Robinson, president and managing director of Wyndham Hotel Group for South East Asia and Pacific Rim.
PPCAT’s landmark project, Wyndham Soleil Danang, will sit on a 21,800 sq m site that is just a 15-minute drive from the Danang international airport. Nguyen says the group chose to have its landmark development in Danang as it is an established and popular tourist spot, with its long coastline and beautiful beaches.
Nguyen (left) and Robinson at the signing ceremony for Wyndham Soleil Danang’s management
The US$446 million ($622 million) Wyndham Soleil Danang is designed by world-renowned architectural firm Aedas, known for its futuristic design of The Star Vista and Lucasfilm’s “Sandcrawler” building in Singapore’s one-north.
Wyndham Solei Danang will feature a coral- inspired façade and be the tallest hotel in the city when completed. The development will feature two 57-storey towers, a 50-storey tower and a 45-storey tower with a mix of studios, apartments and hotel rooms, totalling 3,200 units. They range from 33 to 43 sq m for studios; 55 to 59 sq m for one-bedders; and 80 to 160 sq m for two-bedroom apartments.
There will be extensive conference facilities, a shopping mall, a dining precinct, recreational parks, swimming pools, a gym, a spa, as well as a health and wellness centre.
As it is a resort development, buyers of the luxury residences can choose to place their units back in the hotel pool to be managed by Wyndham. PPCAT is offering buyers a guaranteed return of 9% for the first five years.
More than 50% of Tower D at Wyndham Soleil Danang has been sold, and several investors have purchased entire floors with 22 units each
Since its recent exclusive launch, more than 50% of Tower D has been sold, and several investors have purchased entire floors with 22 units each. PPCAT plans to launch the project to a wider audience in the third quarter.
The Wyndham Soleil Danang is scheduled to open in 2Q2018. For now, its site may be just an empty plot, says Nguyen. “But in 24 months, it will be a skyscraper and a new icon for Danang city.”
This article appeared in The Edge Property Pullout, Issue 778 (May 8, 2017) of The Edge Singapore.