$42mn hotel project in Vietnam granted extension on land-use timeline despite 10-year delay

The Quang Tri administration confirmed the decision on Wednesday, citing the investor’s request to continue the project despite being more than 24 months behind schedule.

The developer, Hanoi-Quang Binh Tourist JSC, pledged to fulfill outstanding financial obligations to the province.

Officials instructed relevant agencies to monitor progress and ensure compliance.

The provincial tax department will calculate penalties for delayed land use and oversee the investor’s commitments.

The provincial administration warned that the developer would face legal action under land regulations if it fails to fulfill financial obligations or does not complete the project after the extension expires.

The Pullman Quang Binh project occupies a prime five-hectare site in Dong Hoi Ward.

The planned development includes a 283-room hotel, 18 luxury villas meeting international five-star standards, and high-end amenities such as a convention hall, restaurants, and a spa.

The project was launched in 2016 with an initially registered investment of VND600 billion ($23 million), with completion scheduled for 2019.

In September 2019, the investor registered an increase in total investment to VND1.1 trillion ($42 million).

Despite these commitments, construction has stalled for years.

Only partial structures were completed before the site was fenced off.

Exposed staircases have deteriorated under the elements, steel reinforcements remain scattered, and interior floors are covered in moss and dampness.