SUN Group

News Summary:

On August 14, investors, citing past successes with Sun Group's developments such as the Sun Grand City Hillside Residence in southern Phu Quoc Island, began directing capital to Blanca City in Vung Tau, anticipating similar returns from the Sun Group ecosystem. An investor reported her Phu Quoc apartment, acquired a few years prior, now generates substantial rental income from long-term foreign tenants. This follows an August 13 contract signing in Phu Quoc Special Zone, An Giang Province, where Ho Chi Minh City Urban Railway Company No. 1 (HURC1) agreed to provide technical support for operations, maintenance staff training, and trial runs for Phu Quoc's first light rail system, leveraging insights from Ho Chi Minh City's Metro Line 1. Earlier on August 13, engineers laid the calibration rail for a new 100 kph rail link in Phu Quoc, a short trial section used to check and align the route's technical parameters. Developer Sun Group stated this line, whose construction began last December, will reduce travel time from Phu Quoc International Airport to southern resorts and the APEC Convention and Exhibition Center to approximately 20 minutes. On August 12, Phu Quoc International Airport, which transferred management and operations to Sun Group on January 1, 2026, reported handling over 4.48 million passengers and nearly 28,000 flights, marking year-on-year increases of 38% and 44% respectively, as the island accelerates APEC 2027 infrastructure projects. Previously, on August 11, Sun Group expanded its hotel business in the Philippines with the official launch of the Vibe Hotel Alabang in Muntinlupa.