Sa Pa's Golden Square Marks Major Tourism Boost
Sa Pa, a picturesque town in Lao Cai, is renowned for its stunning landscapes and vibrant ethnic culture. In 2024, it welcomed over 4.6 million tourists, aiming for 5.8 million in 2025. Recently, construction began on the Golden Corral social housing project, valued at VND2.1 trillion ($79.6 million), marking a significant development in the region.
The Golden Corral project, initiated by a consortium including Alphanam units in December 2020, will feature the Courtyard by Marriott Sa Pa with 316 rooms, 192 serviced apartments, nine bungalows, and the Apartments by Marriott Bonvoy Sapa with 354 residences and 18 townhouses. This follows Alphanam's previous investments in Sa Pa, including the Sofitel Sapa Hotel & Residences and the Holiday Inn Resort Sapa, started in July 2020 worth VND4.3 trillion ($163 million) combined.
Founded in 1995, Alphanam has expanded into real estate, manufacturing, services, and hotel management, controlling over 5,000 hectares of land nationwide. The group is currently developing over 50 projects, ranging from urban townships to resorts and high-end housing. Among these is a VND5.5 trillion ($208.5 million) luxury hotel and apartment complex in Sa Pa, expected to be completed in 2027 as part of the Muong Hoa international resort.
The Golden Corral project, along with Alphanam's other developments in Sa Pa, signals a significant boost to the region's tourism and real estate sectors. Upon completion, these projects are expected to enhance Sa Pa's appeal as a premier tourist destination, contributing to its target of 5.8 million visitors in 2025.
