Canada developer pledges another US$75 million for resort project in Vietnam

With the additional pledges, the Grand Ho Tram Strip's projected cost now exceeds US$1 billion, according to a press release on Monday.

The pledges are for expanding the luxury complex to host 1,100 rooms, a double of its current capacity. 

Backed by the US private hedge fund Harbinger Capital Partners, Asian Coast Development has developed the complex since 2007 through its wholly-owned subsidiary Ho Tram Project Company Ltd.

Its first phase was opened in 2013 with a 541-room hotel, restaurants, swimming pools and an 18-hole golf course.