T&T Group and Qatar partner on $4.5 billion sports-entertainment complex

The information was shared at the meeting with Hanoi People's Committee to inform the progress of the venture. The complex covers an area of 330 hectares in Dong Anh, Hanoi, with a total capital of $4.5 billion. The initiative comprises two main components, including a 120-ha sports complex and a 143-ha amusement park.

The sports complex is designed in line with the Olympic standard with an estimated capital of $1.3 billion, featuring international-standard sports facilities, including a 60,000-seat modern stadium. Meanwhile, the $3.2 billion amusement park boasts theme parks and entertainment zones based on world-renowned models, promising to become the largest of its kind in Vietnam.

Amir Ali Salemi, CEO of JTA International Investment said, "JTA has promoted investment in Vietnam through the partnership with T&T Group since 2022. We hope to connect with global investors, especially those from the Middle East to Vietnam."

"JTA collaborates with T&T Group to invest in the multipurpose sports and amusement park complex with a view to developing an iconic landmark for Hanoi and the whole nation in the fields of infrastructure, healthcare, sports, and social welfare, in association with entertainment and tourism," said Salemi.

Do Vinh Quang, vice chairman of T&T Group said, "The international-compliant complex, boasting Olympic-level facilities, will become an ideal destination for large-scale regional and international tournaments. The venture will contribute to elevating Hanoi's position on the global sports map while laying a foundation to train and develop young athletic talent for the national teams."

"When completed, the sports-entertainment complex will become a key highlight in Hanoi's satellite urban network, linking with other major projects in Dong Anh such as smart cities, new urban areas, and large shopping centres," Quang added.

Alongside the benefits of infrastructure and planning, the project is expected to bring clear economic gains. The complex will generate tens of thousands of jobs in sports operations, tourism services, commerce, and entertainment.

The amusement park system is expected to lure numerous international and local tourist arrivals, contributing to boosting tourism and increasing revenue for the retail, hotel, and restaurant sectors in the region.

“The collaboration between T&T Group and JTA is not simply a sports facility initiative but also a symbol of integration and sustainable development. With more than 30 years of experience in sports investment and development, we are confident that together with our partner JTA, we will create a world-class scheme that makes a significant contribution to the socioeconomic development of the capital and elevates the image of Vietnam further on the global map,” Quang said.

Vingroup signed an MoU with global investment firm JTA Investment Qatar on March 3, opening up strategic investment opportunities in the electric vehicle and tourism sectors.

A partnership between T&T Group, Korea Gas Corporation (KOGAS), and SK E&S is paving the way for joint initiatives on liquefied natural gas (LNG) infrastructure, nationwide supply chains, and hydrogen production, contributing to Vietnam's energy transition and sustainable development goals.

SK E&S, T&T Group, and Quang Tri province signed an MoU on investment, trade, energy transition, and green growth at the Korea-Vietnam Business Forum on July 1.