Rockefeller firm plans US$2.5b Vietnam project

[HANOI] Rose Rock Group, a Rockefeller family-backed alternative investment management firm, will help develop a US$2.5 billion residential and hotel project on the south-central coast of Vietnam.

The Vung Ro Bay development covering 200,000 square metres will be developed with Vung Ro Petroleum Co, a Tuy Hoa, Phu Yen province-based oil company, according to a joint statement.

The project will include 350 marina berths, hotels with more than 760 rooms, 4,300 residential apartments, 100 townhouses and retail shops, according to the statement.