Project Financial Summary
Tra Vinh Sportcation Estate
Hospitality & Sports Infrastructure · SME Startup · Tra Vinh Province, Mekong Delta
Total CAPEX
5B VND
Loan (70%)
3.5B VND
Gross Rev. Target
218.4M/mo
Net Cash Flow (avg)
+115.4M/mo
Section 1
Capital Expenditure (CAPEX) Breakdown
All-in development cost capped at 5,000,000,000 VND. Line items below reflect current Mekong Delta contractor and materials pricing (Q1 2026).
Land Acquisition
1 hectare, Tra Vinh rural / developing zone
1800M
36.0%
Main Villa
200m² reception, owner quarters, lounge & admin
700M
14.0%
Guest Cabins (×4)
Modular flat-roof, 40m² each, private terrace & A/C
800M
16.0%
Pickleball Courts (×2)
Professional surface, LED night lighting, fencing
350M
7.0%
Swimming Pool
8×4m lap pool, filtration system, poolside decking
500M
10.0%
Sauna & BBQ Pavilion
Finnish barrel sauna + covered outdoor BBQ social area
250M
5.0%
Landscaping & Orchard
Tropical gardens, fruit trees, pathways, lighting
200M
4.0%
Utilities & Infrastructure
Electrical grid connection, water system, septic, Wi-Fi
200M
4.0%
Pre-opening & Contingency
FF&E, permits, initial marketing, 5% contingency buffer
200M
4.0%
Total CAPEX
5,000,000,000
VND
Section 2
Financing Structure & Debt Service
Under 2026 SBV regulations, interest rates are stabilising for "productive business" models at ~12%.
Self-Funded Equity
30%
1,500,000,000 VND
Requested Loan
70%
3,500,000,000 VND
Principal: 29.2M · Interest: 35M
Decreases over 10 years as balance reduces
Section 3
Revenue Model
Core Revenue
6 weekends × 28,000,000 VND
20% occupancy × 4 cabins
Additional Packages & Upsells
Extra Revenue6 groups × 3,000,000 VND
10 sessions × 500,000 VND
20 × 200,000 VND (pickleball sets)
8 visitors × 300,000 VND
Total Monthly Gross Revenue
218,400,000
VND / month (at stabilised occupancy)
Section 4
12-Month Revenue Projection
12-Month Revenue Projection
Realistic ramp-up as marketing and referral network build
Month 1 (Launch)
71M VND
~35% capacity
Month 3
117M VND
Word of mouth
Month 6
171M VND
Marketing effect
Month 12
218M VND
Stabilised
Section 5
Operating Expenses & Profitability
Operating Expenses (OPEX) — Explicit Breakdown
Month 1 Note
At launch (soft occupancy, Month 1 payment of 64.2M), net cash flow is approximately +98,400,000 VND. Even at 35% occupancy the project is cash-flow positive from day one.
Section 6
2026 Legal & Tax Incentives — "The Pitch Winner"
Three major 2026 Vietnamese policy shifts directly benefit this project:
CIT Exemption — Decree 20/2026/ND-CP
As a newly registered SME, the project qualifies for a 3-year Corporate Income Tax exemption, followed by a 50% reduction for the next 4 years. This preserves ~115M VND/month for reinvestment during scale-up.
Land Conversion Discount
Under the 2026 Land Law amendments, converting garden/pond land to residential requires only 30% of the price difference payment, significantly lowering future expansion costs.
Construction Permit Exemption
Structures under 7 stories in rural/developing zones qualify for the 2026 permit exemption for low-rise cabins, accelerating build time by 4–6 months.
Section 7
Risk Mitigation
Interest Rate Resilience
With 70% debt at 12% and a strong NOI of 162.4M/month, the project remains cash-flow positive even if rates spike to 18% (debt service would rise to ~63M vs. NOI of 162.4M).
Low-Occupancy Floor
Even at 35% occupancy (Month 1), the estate is projected cash-flow positive at +98.4M/month — the upsell and F&B lines provide a meaningful buffer above the breakeven.
Land Asset Appreciation
The 1-hectare Tra Vinh land is an appreciating hedge. Mekong land prices are trending +8–12% annually in 2026 due to HCMC-adjacent infrastructure. Exit value grows independently of operations.
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