Villas to be built in Saigon Water Park
Saigon Water Park Ltd. is a joint venture between the British Virgin Islands-based Pegasus Leisure Ltd. and Vietnam-based Thien Tuyen Housing Trading and Investment Consulting Co. Ltd. The company is famous for building Vietnam’s first water park that was opened in 1998 and its investment capital was 11 million USD.
The joint venture’s activity in the first 2 years was very successful as it was the only service of this kind at that time. But then, a fierce competition began because of a lot of parks were established (Suoi Tien Water Park, District 5 Water Park, Dam Sen Water Park).
Therefore, currently the company is trying to get permission to build high-end villas at this park. This is because its entertainment activities resulted in big losses, so the company hopes to earn money on building villas.
The company hopes its plan on developing French-style villas on approximately 5 hectares in the park for sale and for lease will be approved. The project will include 50 villas of 3-4 bedrooms, of 460 to 1200 square meters each.
Meanwhile, the park has been temporarily closed and it employees are unemployed.