Gia Lai province is selling hotel land in two very different markets at once. On 19 October, the province’s Economic Zone Management Board approved a 370-key resort on the eastern slope of Phuong Mai mountain, across the bay from Quy Nhon. The investor will be picked by land auction. At the same time, a 4-star hotel site in the centre of Pleiku is heading to its third auction on 13 November, after earlier rounds found no winner. For hotel investors, the message is clear: there is land on offer in Gia Lai, but buyers are choosing carefully.
Key facts
| Phuong Mai Eastern Slope (Quy Nhon) | Pleiku hotel and shopping site | |
|---|---|---|
| Decision | 761/QD-BQL, 19 October 2026 | Third auction on 13 November 2026 |
| Location | Ly Hoa area, Quy Nhon Dong ward, Nhon Hoi Economic Zone | Former Se San Hotel land, central Pleiku |
| Site | 29.67 ha | About 32,896 sqm of floor area |
| Keys | 226 hotel rooms and 144 villas | Up to 300 rooms, 4-star |
| Other uses | Low-rise, 1 to 3 storeys, up to 24.89% site cover | Shopping centre and convention centre |
| Investment | Over VND2,364bn | Over VND605bn |
| Starting price | Not in the decision | About VND151bn (land plus existing assets) |
| Build time | 60 months, 12 to start work | 36 months (was 24) |
What happened
The Phuong Mai project covers 29.67 ha, of which 28.99 ha is for tourism and 0.68 ha for roads. Its detailed 1/500 plan was approved in August. The board’s decision sets out a low-density resort of 370 units, with 226 hotel rooms and 144 villas. The winner gets land for 50 years. It has 12 months to start building and 60 months to finish. It cannot transfer the project before it is complete.
In Pleiku, the province is trying again with a city-centre site for a 4-star hotel of up to 300 rooms, plus a mall and convention centre. Bidders must lodge a deposit of over VND30bn. To make the site more attractive, the province extended the build time from 24 to 36 months.
Gia Lai is also re-auctioning a 652-unit apartment project on Nguyen Trong Tri street in Quy Nhon on 20 November, after three earlier rounds this year. The CK54 urban area failed at auction four times before the province changed its terms at the end of September.
Why it matters
Since Binh Dinh merged into Gia Lai in 2025, the new province has two hotel markets: the Quy Nhon coast and the Central Highlands around Pleiku. Their results at auction are very different.
On the coast, demand exists. In August, Thanh Yen JSC from Tay Ninh won the K200 site in Quy Nhon for over VND317bn, about VND90bn above the starting price. It plans a 40 to 45-storey tower with a five-star hotel, offices and a mall, at about VND3,500bn. The province is also paying grants for charter flights into Phu Cat airport if tour operators book hotels in the province, as we covered in our Phu Cat charter flights report.
Pleiku is harder. It is a business and government city with short stays. A 300-room 4-star hotel with a mall and convention centre is a big bet there, and failed rounds show bidders think so too.
What the numbers say
Our calculation: the Phuong Mai plan works out at about VND6.4bn of investment per key (VND2,364bn across 370 units). That is before land costs, which the auction will set. The Pleiku site works out at about VND2bn per room, but that figure also includes the mall and convention space.
Our read: the 50-year term, the no-transfer rule and the 60-month deadline favour developers who plan to build and run the resort, not land traders. The 144 villas are the most likely way to recover capital early, if the project’s licence allows them to be sold or rented out as residences. The auction terms will decide that.
What it means for you
1. Developers: read the auction notice, not just the decision
The starting price, deposit and villa rules for Phuong Mai are not in the approval decision. They will decide whether the numbers work.
2. Operators: pitch early
A 370-key resort with villas needs a brand and operator before design is fixed. Winners of land auctions often move fast to meet the 12-month start rule.
3. Investors: Pleiku terms may soften again
The province has already added 12 months to the build time. If the 13 November round fails, watch for a lower starting price.
4. Owners in Quy Nhon: new supply is coming
Between K200’s five-star tower and a 370-key resort on Phuong Mai, Quy Nhon could see new upscale supply by around 2030 if both projects proceed.
FAQ
Where is the Phuong Mai Eastern Slope Tourist Area?
It is in the Ly Hoa area of Quy Nhon Dong ward, in the Nhon Hoi Economic Zone, on the Phuong Mai peninsula facing Quy Nhon city.
How many rooms will the Phuong Mai resort have?
The approved plan has 370 units: 226 hotel rooms and 144 villas.
How will Gia Lai choose the investor?
By auctioning the land-use rights. The winner gets the land for 50 years.
When is the Pleiku hotel site auction?
The third auction is set for 13 November 2026, with a starting price of about VND151bn.
Is Quy Nhon now in Gia Lai?
Yes. Binh Dinh province merged into Gia Lai in 2025, so Quy Nhon is now part of Gia Lai.
