After almost two decades of discussion, Hanoi’s horse racing complex is becoming a reality.
On August 9, Vietnam's Hanoi Tourist Corporation (Hanoitourist) and South Korean firm Global Consultant Network Company Limited (GCN) signed an investment agreement regarding the racetrack's construction, reports Dan Tri.
Together, the two companies put forth a US$500 million investment in the five-star complex. This money will go toward the construction of a horse racing track, a hotel, a trade center, a recreation center and a golf course. According to VietnamNet, GCN will cover 85% of the total amount while Hanoitourist will take care of the rest.
The future attraction will be based in Hanoi’s Soc Son District, covering 235 hectares of Tan Minh Commune, reports Lao Dong.
Vietnam's Ministry of Urban Planning and Investment reportedly greenlit the project as early as 1999. Back then, the racetrack was to be constructed in Thanh Tri District, but the neighborhood’s 40-hectare space proved too small for the complex, thus prompting the decision to move the site to Soc Son.
[Photo via AlphaCoders]
