The site, covering 30 hectares in the southern part of the city, has stood idle since 2015, just five years after opening. Today, its crumbling structures, moss-covered walls, and dense overgrowth evoke the image of a long-forgotten horror film set.
According to the Binh Thuan People’s Committee, the site remains inactive because the project investor, Suoi Cat Company, became insolvent. With the Civil Judgment Enforcement Department seizing assets to recover debts, the project cannot yet be reclaimed or resumed.
The investor dismantled machinery and removed furniture and equipment from the site for relocation.
Despite an initial investment of VND 160 billion (USD 6.15 million), the project failed to attract tourists.
In April last year, Suoi Cat Company proposed converting the site into Khai Hoan Riverside Residence, a modern urban development with integrated infrastructure. However, authorities rejected the plan, citing inconsistencies with local land use policies, urban planning and Phan Thiet’s housing strategy.
Since 2021, a temporary market has operated on part of the abandoned site.
Phan Van Dang, Standing Vice Chairman of the Binh Thuan People’s Committee, has asked the Department of Finance to supervise the site and propose options for its functional conversion in line with the approved development plan.
