Tourism infrastructure has not "caught up" with the speed of development

The Vietnamese tourism industry took July 9, 1960 as its founding date, but in the northern mountainous region of Sa Pa, the history of tourism development began 120 years ago. Since 1903, the French established a resort in Sa Pa, built more than 200 villas and turned this place into a "summer capital".

Over a century has passed, Sa Pa still retains its appeal to domestic and foreign tourists thanks to its cool climate, unique natural mountain and forest landscapes and the diversity of ethnic cultural identities. This place has terraced fields ranked as one of the 7 most beautiful and magnificent fields in the world (according to Travel + Leisure), Fansipan peak known as the "roof" of Indochina, Muong Hoa valley with its beautiful colors in all four seasons, Ham Rong mountain, Stone Church, O Quy Ho pass, ancient craft villages of ethnic minorities...

It is not an exaggeration to say that Sa Pa is the "4 seasons that never sleep" star of Vietnamese tourism. Every month of the year attracts tourists with its unique beauty, and every season is the peak tourist season.

Before the pandemic (2019), Sa Pa welcomed 3.5 million tourists, 50 times the population here. In 2023, in the first 9 months of the year, Lao Cai welcomed nearly 6.1 million visitors and exceeded the annual plan, of which Sa Pa welcomed 2.5 million visitors. Just counting the April 30 holiday this year, Sa Pa welcomed a record number of visitors with 185,000 people in just 5 days.

Over the past 10 years, a series of key transport projects have been built to "give wings" to Sa Pa tourism. Notable ones include the Noi Bai - Lao Cai expressway, which opened in 2014 (the Yen Bai - Lao Cai expressway section is being upgraded to 4 lanes); Cam Con international airport, which is expected to open in 2026; and the Mong Sen bridge, the highest overpass in Vietnam, which will save 20 minutes of travel time from Sa Pa to Lao Cai city.

With huge tourism potential and infrastructure and economic incentives, Sa Pa is on track to become a leading destination in Vietnam and internationally. Welcoming a huge number of visitors every year, there are currently only 711 accommodation establishments including 8,107 rooms; 283 food and beverage service establishments, souvenir and tourist gift service establishments.

In addition, Sa Pa also lacks commercial centers, entertainment areas, and bustling shopping areas to serve the diverse needs of tourists, stimulate spending and increase length of stay, in addition to natural and cultural highlights.

Ms. Tran Thi Thuy Duong - Sales Director of Dat Xanh Mien Bac, a real estate expert with knowledge of the Sa Pa market, commented: “ Since the pandemic, the trend of mountain tourism has become more dominant thanks to the cool, fresh climate, majestic landscapes and many interesting experiences of exploring nature.

The proof is that from 2013 to 2020, the number of visitors to Sa Pa was lower than Da Nang (a difference of 2.2 - 3.5 million/year). However, since 2021, Sa Pa has broken through and increasingly surpassed Da Nang in terms of visitor traffic. Specifically: in 2021, the number of tourists to Sa Pa and Da Nang was 1.5 and 1.2 million, respectively; in 2022, it was 4.5 and 3.7 million, and in the first quarter of 2023, it was 2 and 1.4 million (according to data from the Vietnam National Administration of Tourism).

“ The supply of accommodation in Sa Pa is still limited and cannot meet the needs of a huge number of tourists all year round. Therefore, at this time, investors choosing multi-functional real estate in Sa Pa will have the opportunity to gain long-term profits and promise potential for increased asset value,” Ms. Thuy Duong added.

At this time, the Northwest Urban Area near the new Sa Pa Administrative Center is the center of attention with the Sapa City Clouds commercial townhouse project.

Investing from the “foot of the wave” in the new development center of Sa Pa

May Sapa City is located in the Northwest Urban Area (Dien Bien Phu Street, Sa Pa Town, Lao Cai). This is the first urban area in Sa Pa that is systematically planned with the participation of many big names such as Bitexco, Corporation 36 of the Ministry of National Defense...

The project is considered to have a unique prime location right in the heart of a rapidly developing area to become the new administrative - economic - commercial center of Sa Pa. Through the main roads of QL4D - Dien Bien Phu, Thac Bac road, So Than road, and planned routes, from Pho May Sapa City Clouds, it is conveniently connected to Sa Pa town, 160ha Northeast urban area, Fansipan cable car station, stone church, Sun Plaza, Sa Pa lake... within a radius of less than 900m.

20 limited edition shophouses are being sold at Pho May Sapa City Clouds, completed with luxurious neoclassical design, 4 floors high and all with full legal documents, are long-term assets that can be exploited for multiple functions for modern investors.

These shophouses are profitable business premises with 2-3 large frontages, located near the main gate of the Northwest Urban Area connecting to Dien Bien Phu/QL4D Street. Owners can rent out or run their own restaurant, cafe, souvenir/regional specialty shop on the 1st floor and rent out the 3 upper floors as a homestay.

Right next to the project are 2 apartment/hotel complexes under construction, the Capital Military Region Guest House and many other low-rise projects in the heart of the Northwest Urban Area, so the number of guests is stable and large, not to mention tourists and residents in the surrounding area.

In particular, opposite the project - right across Dien Bien Phu street is the 5-star Silk Path resort with a large room capacity and high-end, high-spending customers, so the shopping and entertainment street at Sapa City Clouds will become an attractive destination when bringing vibrant and bustling experiences.

Great potential for price increase, high exploitation value, customers investing from 5.5 billion immediately own a mini hotel - commercial service shophouse, bustling business with lifetime cash flow at Pho May Sapa City Clouds. With a limited quantity of only 20 units, investors who seize the opportunity to own a shophouse in the project right now will receive a discount of up to 4%, the bank will disburse a loan of 65% of the product value, no need to worry about paying principal and interest for 12 months and receive a gift of gratitude of 30 million for customers in Hanoi and Lao Cai.