Rockefeller firm to develop $2.5 bln resort project in Vietnam

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Vung Ro Bay on the south central coast of Vietnam

Rose Rock Group, an investment management firm backed by the Rockefeller family, has agreed to help develop a $2.5 billion resort project in Vietnam.

The Rose Rock Group has entered into an agreement with independent firm Vung Ro Petroleum to develop the 200,000-square-meters resort community in Vung Ro Bay on the south central coast of Vietnam, the companies said.

The Vung Ro Bay development enclave will comprise several hotels with over 760 rooms, 4,300 apartments, 100 luxury townhouses, a variety of retail shops and 350 marina berths, they said.

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