Alphanam Group Launches $208M Luxury Hotel & Apartment Complex in Sa Pa
Alphanam Group, a prominent Vietnamese conglomerate, has kicked off a VND5.5 trillion ($208.5 million) luxury hotel and apartment complex in the picturesque town of Sa Pa, Lao Cai. This latest project adds to the group's expanding portfolio, which includes over 50 projects ranging from urban townships to resorts and high-end housing.
The group's real estate arm has been active in Sa Pa, having previously started two projects worth VND4.3 trillion ($163 million): the Sofitel Sapa Hotel & Residences and the Holiday Inn Resort Sapa. Their latest venture, the Muong Hoa international resort complex, is expected to be completed by 2027 and will include the Courtyard by Marriott Sa Pa with 316 rooms, 192 apartments, and nine bungalows, as well as the Apartments by Marriott Bonvoy Sapa with 354 residences and 18 townhouses.
Alphanam Group's expansion has been bolstered by strategic joint ventures and new developments. In December 2020, a consortium including Alphanam units began construction of the Golden Square social housing project in Lao Cai, valued at VND2.1 trillion ($79.6 million). The group has also proposed projects in Lai Chau and surveyed an eco-tourism site in Quang Ngai, demonstrating their commitment to diversifying their real estate portfolio.
With over 5,000 hectares of land under control nationwide and a diverse portfolio of projects, Alphanam Group continues to make its mark on Vietnam's real estate landscape. The new luxury hotel and apartment complex in Sa Pa is set to further boost tourism in the scenic town, which welcomed over 4.6 million visitors in 2024 and targets 5.8 million this year.
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