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T
he Israeli-backed Paradise Bay Resort will bring holiday
ownership to Vietnam via its landmark resort to be
built in Khanh Hoa province.
Covering an area of around 30ha on Cam Ranh
City’s Bai Dai Beach, close to the Cam Ranh Airport, the Alma
resort will be developed with investment capital of $300 million.
The resort will feature 200 villas and 400 apartments,
together with restaurants, bars, shops and other amenities.
Construction will finish within the next five years.
Brian Martin, general director of Paradise Bay Resort Com-
pany, said that the Alma will be built on an island, with one side
facing the main route that connects Nha Trang city to the resort,
and the other side lining a beach.
Moreover, a four hectare theme park will be located within
the grounds, promising much fun for all of the family, particu-
larly the children.
According to Asian architectural philosophy, the element of
water is very important. Because of this, Martin said the Alma
designer focused on building the resort’s water system along
the main routes to the sea, taking inspiration from traditional
Vietnamese construction.
“Alma will be a great destination for family holidays where
all services for children and women are offered in a very special
way,” he said.
Alma will also be one of the first projects in Vietnam which
will be operated under the holiday ownership model. Holiday
makers will buy one to three weeks in a condominium or a villa
every year. The price is only a fraction of the equivalent rental
price. “Holiday ownership gives you unbelievable value because
you own the rights to the holiday suite and villas for a lifetime
and because when you make that commitment you pay much,
much less than any five-star deluxe beachside hotel property
you can imagine,” said Martin.
Due to the size of the company, its customers can choose
to vacation in Nha Trang or elsewhere in the world – in London,
in New York, in Florida or virtually anywhere.
“We are offering properties at 50 per cent of what we
expect to be our final price. For the first units, the price range
is between $5,000 and $19,000 and this will increase progres-
sively toward the opening date,” he said.
Khanh Hoa boasts some of the most beautiful beaches in Vi-
etnam and that is the reason why the famous Israeli billionaire,
Igal Ahouvi, decided to choose this venue for his first property
in Vietnam.
The holiday that never ends
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