Welcome!

News Feed Item

Vung Ro Petroleum and Rose Rock Group Sign Cooperation Agreement on US $2.5 Billion Development in Vung Ro Bay, Vietnam

HONG KONG, CHINA -- (Marketwired) -- 01/14/14 -- Vung Ro Petroleum, an independent petroleum company based in Vietnam, and Rose Rock Group, boutique alternatives investment management and real estate development firm founded by members of the Rockefeller family, have entered into an agreement to cooperate on the development of a resort community in Vung Ro Bay, on the south central coast of Vietnam.

Vung Ro Bay is ideally located in Phu Yen province, with direct links to Tuy Hoa and its airport, making it a convenient location for both business and tourist visitors, as well as permanent residents. Based on the current Masterplan, Vung Ro Bay will be developed into three parts to include The Marina, The Village and Bai Mon beach, which will all be connected by The Green Thread, a 2.5 kilometer pedestrian path.

With its natural deep water and sheltered bay, The Marina is the gateway to Vung Ro. This will be a key destination comprising 350 marina berths, a waterfront hotel and retail space for shops, bars and restaurants along the corniche. The Village is centrally located in the development and will provide the majority of the residential accommodation. In addition, there will be a 650 meter retail street to support the community. Bai Mon, with its extensive and deep flat sandy beach, will comprise a lively beach resort with a variety of watersports available and a more exclusive boutique hotel along its 400-meter sandy beach.

The entire Vung Ro Bay development will emphasize sustainable development and focus on creating an extraordinary thriving ecology of education, healthy living, lifestyle and culture. The enclave will comprise several hotels with over 760 rooms, 4,300 apartments, 100 luxury townhouses, a variety of retail shops and 350 marina berths. The gross commercial area will total approximately 200,000 square meters, providing space for schools, healthcare facilities, retailing and entertainment complexes. Already garnering industry support, the Vung Ro Bay Masterplan won the Silver award at MIPIM in November 2013.

Kirill Korolev, CEO & General Director, at Vung Ro Petroleum said, "We are extremely excited to be embarking on this mega project and very pleased to be working with Rose Rock Group, a strong and reliable partner who will help us to ensure the success of this development. Our plan is to create a vibrant community for Vung Ro around the area's natural beauty and provide a world class destination for discerning residents and visitors."

Collin Eckles, President, at Rose Rock Group said, "We are delighted to be working with Vung Ro Petroleum on the Vung Ro Bay development project and we look forward to making this development an outstanding and preferred destination in the Asia Pacific region for visitors and a lifestyle choice for residents. We look forward to bringing unique and differentiating occupiers to the project from our global network to provide compelling value enhancing content to Vietnam."

Kirill Korolev says, "Vietnam is rapidly evolving as a unique destination for investment, residence and tourism. We see this as a country of dynamic and diverse investment opportunity, with an economy that is growing at among the highest rates in the world. Its strong fundamentals and favorable demographics make this an attractive investment destination for many people."

For photos with high-resolution, please visit ftp://VRPExt:[email protected].

Company Logo
Vung Ro Petroleum http://release.media-outreach.com/release.php/Images/1474
Rose Rock Group http://release.media-outreach.com/release.php/Images/1475

About Vung Ro Petroleum
Vung Ro Petroleum Company Limited ('VRP') is an independent petroleum company based in Vietnam with plans to offer the highest global standards of petroleum and petrochemical products. Backed by Technostar Management Limited Company, VRP is an industry partner of leading global oil companies and is headed by an international team of experts.

VRP is investing more than US$4 billion to develop an oil refinery, petrochemical plant, and seaport in Phu Yen province on Vietnam's south central coast, with construction beginning in Q2 2014. The projects are located in the Hoa Tam Industrial Zone, a special economic zone in which VRP is the driving force of industrial development with stringent environmental practices. The refinery is well-positioned to meet high demand growth for high quality fuel and petrochemical products in Vietnam and the wider region, and acts as a strategic base for business expansion within the region.

The first fully private company in Vietnam's petroleum sector, VRP has enjoyed support from the Vietnamese Government since its launch in 2004 when the Ministry of Planning and Investment referred to it as a major priority for national economic and social development. In 2008, VRP's role in providing future domestic energy security for Vietnam was recognised by the Ministry of Industry and Trade. VRP's projects will boost Vietnam's economic growth trajectory through export opportunities, foreign direct investment, the creation of jobs, and the development of infrastructure.

About Rose Rock Group
Rose Rock Group is a boutique alternatives investment management and real estate development firm firm founded by members of the Rockefeller family. Our brand is synonymous with leadership, philanthropy, prosperity and influence.

Our company honors the Rockefeller legacy by advising, consulting to and partnering with developers of properties of scale and permanence. Rose Rock specializes in large-scale real estate, healthcare, arts & culture and luxury initiatives that leverage our expansive international network of relationships. The group enhances economic value by creating destinations of cultural and societal significance.

More than just bricks and mortar, Rockefeller buildings are the foundation under which great cities have thrived, and today they are destinations of important cultural and societal significance. We make a concerted effort to partner with organizations that share our passion for excellence.

The group is currently involved in a portfolio of developments in China. With over forty team members in five offices across the northern hemisphere, Rose Rock's mission is to promote and create sustainable economic growth by cementing relationships at the highest levels of government and business.

Contacts:
Citigate Dewe Rogerson
Charlotte Bilney
Co-Managing Director
Tel +852 3103 0103 / 9314 3463

Eller Kwong
Consultant
Tel +852 3103 0118 / 9326 2409

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
When you focus on a journey from up-close, you look at your own technical and cultural history and how you changed it for the benefit of the customer. This was our starting point: too many integration issues, 13 SWP days and very long cycles. It was evident that in this fast-paced industry we could no longer afford this reality. We needed something that would take us beyond reducing the development lifecycles, CI and Agile methodologies. We made a fundamental difference, even changed our culture...
Things are changing so quickly in IoT that it would take a wizard to predict which ecosystem will gain the most traction. In order for IoT to reach its potential, smart devices must be able to work together. Today, there are a slew of interoperability standards being promoted by big names to make this happen: HomeKit, Brillo and Alljoyn. In his session at @ThingsExpo, Adam Justice, vice president and general manager of Grid Connect, will review what happens when smart devices don’t work togethe...
The 20th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held June 6-8, 2017, at the Javits Center in New York City, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal ...
@DevOpsSummit taking place June 6-8, 2017 at Javits Center, New York City, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. @DevOpsSummit at Cloud Expo New York Call for Papers is now open.
"There's a growing demand from users for things to be faster. When you think about all the transactions or interactions users will have with your product and everything that is between those transactions and interactions - what drives us at Catchpoint Systems is the idea to measure that and to analyze it," explained Leo Vasiliou, Director of Web Performance Engineering at Catchpoint Systems, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York Ci...
SYS-CON Events announced today that Dataloop.IO, an innovator in cloud IT-monitoring whose products help organizations save time and money, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Dataloop.IO is an emerging software company on the cutting edge of major IT-infrastructure trends including cloud computing and microservices. The company, founded in the UK but now based in San Fran...
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
Internet of @ThingsExpo, taking place June 6-8, 2017 at the Javits Center in New York City, New York, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. @ThingsExpo New York Call for Papers is now open.
In the next five to ten years, millions, if not billions of things will become smarter. This smartness goes beyond connected things in our homes like the fridge, thermostat and fancy lighting, and into heavily regulated industries including aerospace, pharmaceutical/medical devices and energy. “Smartness” will embed itself within individual products that are part of our daily lives. We will engage with smart products - learning from them, informing them, and communicating with them. Smart produc...
Providing the needed data for application development and testing is a huge headache for most organizations. The problems are often the same across companies - speed, quality, cost, and control. Provisioning data can take days or weeks, every time a refresh is required. Using dummy data leads to quality problems. Creating physical copies of large data sets and sending them to distributed teams of developers eats up expensive storage and bandwidth resources. And, all of these copies proliferating...
SYS-CON Events announced today that Catchpoint, a leading digital experience intelligence company, has been named “Silver Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Catchpoint Systems is a leading Digital Performance Analytics company that provides unparalleled insight into your customer-critical services to help you consistently deliver an amazing customer experience. Designed for digital business, C...
“DevOps is really about the business. The business is under pressure today, competitively in the marketplace to respond to the expectations of the customer. The business is driving IT and the problem is that IT isn't responding fast enough," explained Mark Levy, Senior Product Marketing Manager at Serena Software, in this SYS-CON.tv interview at DevOps Summit, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smart...
SYS-CON Events announced today that Catchpoint Systems, Inc., a provider of innovative web and infrastructure monitoring solutions, has been named “Silver Sponsor” of SYS-CON's DevOps Summit at 18th Cloud Expo New York, which will take place June 7-9, 2016, at the Javits Center in New York City, NY. Catchpoint is a leading Digital Performance Analytics company that provides unparalleled insight into customer-critical services to help consistently deliver an amazing customer experience. Designed ...
WebRTC sits at the intersection between VoIP and the Web. As such, it poses some interesting challenges for those developing services on top of it, but also for those who need to test and monitor these services. In his session at WebRTC Summit, Tsahi Levent-Levi, co-founder of testRTC, reviewed the various challenges posed by WebRTC when it comes to testing and monitoring and on ways to overcome them.