Background

• Casa Marina Resort is located in Ghenh Rang, Quy Nhon, Binh Dinh, just 10km from the city center.
• Phase 1 consists of 56 rooms and bungalows was started in October 2017 and completed in 2018. It was officially operated commercially in the middle of 2018 with occupancy rates around 70% on workdays and 100% on holidays.
• Phase 2 will consist of 160 villas on hill with sea view, connecting to the resort.

Schedule

• Phase 1: 2017 – 2018
• Phase 2: 2019 – 2021

Financials For Phase 2:

• Competitive selling price of 447,427 USD/villa
• Revenue: $67.3M
• Net Profit: $16.8M
• NPV: $12.0M
• IRR: 49.2%.