Partner agreement for Vung Ro Bay development signed with Rose Group

Vung Ro Petroleum and Rose Rock Group, investment management and real estate development firm founded by members of the Rockefeller family, have signed an agreement of USD 2,5 billion value to cooperate on the development of the Vung Ro Bay project.

Ideally located in Phu Yen province, with direct links to Tuy Hoa city and the airport, Vung Ro Bay makes it a convenient location for both business and tourist visitors, as well as permanent residents. Based on the current Masterplan, Vung Ro Bay will be developed into three key parts to include The Marina, The Village and Bai Mon beach.

The ceremony took place in Hong Kong on January 10. Kirill Korolev, CEO & General Director of Vung Ro Petroleum: “We are extremely excited to be embarking on this mega project and very pleased to be working with Rose Rock Group, a strong and reliable partner who will help us to ensure the success of this development. Our plan is to create a vibrant community for Vung Ro around the area’s natural beauty and provide a world class destination for discerning residents and visitors.”

Collin Eckles, President of Rose Rock Group: “We are delighted to be working with Vung Ro Petroleum on the Vung Ro Bay development project and we look forward to making this development an outstanding and preferred destination in the Asia Pacific region for visitors and a lifestyle choice for residents. We look forward to bringing unique and differentiating occupiers to the project from our global network to provide compelling value enhancing content to Vietnam.”