PEGASUS BINH DINH AND BANYAN GROUP ELEVATE PARTNERSHIP, ANNOUNCING DHAWA RESIDENCES BEACHFRONT QUY NHON VIETNAM

Dhawa Residences Beachfront Quy Nhon is the second phase of Pegasus Education Tourism Development in Binh Dinh, Vietnam
Strategically located beside Outward Bound Vietnam
Project to be operational by 2025

SINGAPORE, 17 JANUARY 2024 – Pegasus Binh Dinh Investment and Consultancy JSC (“Pegasus”) and Banyan Group today signed a royalty agreement to operate Dhawa Residences Beachfront Quy Nhon, Vietnam – a total of 55 villas, as part of Dhawa Quy Nhon Vietnam with expected operational date in 2025. His Excellency Mr Mai Phuoc Dung, Ambassador of the Socialist Republic of Vietnam to the Republic of Singapore was the guest-of-honour for this event. Aiming to create an international tourist destination with beautiful landscape and architectural design, Dhawa Quy Nhon Vietnam will be managed by the global independent hospitality company Banyan Group – under its Dhawa brand.

Mr Ricky Tan and Mr Ho Kwon Ping with the signed Royalty Agreement

[L-R Mr Stefan Tan, Mrs Carol Tan, Mr Ricky Tan, H.E. Mr Mai Phuoc Dung, Mr Ho Kwon Ping, Ms Claire Chang, Mr Ho Ren Chun in a group photo]

Dhawa Quy Nhon Vietnam is the second phase of Pegasus Education Tourism Development. The development’s first phase kicked off with the opening of Outward Bound Vietnam (“OBV”) in 2016. Pegasus Education Tourism Development spanning about 60 hectares with its own beach front is part of Pegasus Chairman Mr Ricky Tan’s vision to strategically combine outdoor adventure education facilities with ecotourism hospitality development.

Mr Tan said: “The signing of the royalty agreement for Dhawa Residences Beachfront Quy Nhon cements our long-term investments in Vietnam and marks a significant day for KinderWorld Group of Companies. This second phase of Dhawa Quy Nhon offers the first-of-its-kind hotel with villa residences, in a mixed education tourism development in the central coast of Vietnam. When Singaporean firms collaborate and synergise together, sustainable and purposeful international projects can be achieved.”

“We are delighted to advance our strategic alliance with Pegasus with the opening of the first Dhawa Residences within our dynamic multi-brand ecosystem. Located adjacent to the Dhawa Resort Quy Nhon, also scheduled to open in 2025, this additional experience strengthens Banyan Group’s expanding presence in high-growth travel destinations and exemplifies our commitment to excellence across a broad spectrum of offerings,” said Mr Ho Kwon Ping, Chairman of Banyan Group.

Inspired by paddy terraces, Dhawa Quy Nhon Vietnam spans 10.5 hectares on tiered platforms descending to the seafront. Rooted in a design philosophy embracing panoramic sea views and deep sensitivity to the natural topography, Banyan Group’s Dhawa brand blends seamlessly, emphasizing smart design, distinctive aesthetics, and fresh thinking. The resort caters to discerning travelers, providing unique experiences in stylish, one-of-a-kind settings, encapsulating the essence of choice, comfort, and discovery.

In 2023, Dhawa Resort Quy Nhon was awarded with the Best Resort Interior Design at the Asia Architecture & Design Awards. The resort design is praised for featuring distinct zones inspired by different aspects of Quy Nho’s cultural treasures, celebrating local culture which seamlessly blends with the natural surroundings, emphasizing the region’s rustic charms.

The Binh Dinh province in central Vietnam is gaining popularity as a destination for tourism and hospitality, with a unique and ideal combination of historical structures, untouched beaches and lush greenery. With approved masterplan for an international airport in Binh Dinh, international tourists will also be drawn to Dhawa Quy Nhon Vietnam‘s tranquil yet contemporary setting for an immersive experience.

For more information, visit www.dhawa.com/residences.

Perspectives of Dhawa Residences Beachfront Quy Nhon

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About Pegasus Binh Dinh
Pegasus Binh Dinh (“Pegasus”) is responsible for pursuing opportunities in the investment, acquisition and development of educational properties in Vietnam. Pegasus portfolio has expanded significantly since its inception in 2011 and includes large-scale, purpose-built K-12 schools, international colleges and an outdoor experiential learning complex, providing students with holistic, through-train pathways from Kindergarten to High School and Higher Education. In addition, Pegasus’ training arm also includes Pegasus International Colleges in Hanoi & Danang, Vietnam, offering national, ASEAN and international pathways and qualifications in Hospitality, Tourism, Culinary Arts, Business and Commerce.

Pegasus is part of KinderWorld Group of companies based in Singapore with Mr Ricky Tan, the Founder and Chairman at the helm since 1986. An entrepreneur at heart, he has vast experience setting up education centres in ASEAN and China, with international collaboration with institutions in the US, UK and Australia. Mr Ricky Tan is a council member of Vietnam-Singapore Business Council (“VSBC”). VSBC was established in 2019 by Singapore Business Federation and Vietnam Chamber of Commerce & Industry to further business and trade relations between Singapore and Vietnam.

About Banyan Group

Banyan Group (“Banyan Tree Holdings Limited” or the “Group” – SGX: B58) is an independent, global hospitality company with purpose. The Group prides itself on its pioneering spirit, design-led experiences and commitment to responsible stewardship. Its extensive portfolio spans over 70 hotels and resorts, over 60 spas and galleries, and 14 branded residences in over 20 countries. Comprising 12 global brands, including the flagship brand Banyan Tree, each distinct yet united under the experiential membership programme withBanyan. The founding ethos of “Embracing the Environment, Empowering People” is embodied through the Banyan Global Foundation and Banyan Management Academy. Banyan Group is committed to remaining the leading advocate of sustainable travel, with a focus on regenerative tourism and innovative programmes that elevate the guest experience.

Media Contact:

Mr Benaiah Wee, Director of Communications, KinderWorld International Group

Email: benaiah.wee@kinderworldgroup.com

Ms Beby Benazir, Brand Communications Manager, Banyan Group

Email: beby.benazir@groupbanyan.com