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3 of 5 delivered
KN Holdings
3 of 5 sub-zones delivered · 2 upcoming 2026
The largest single-developer coastal mega-city in Khánh Hòa — 794 ha of villas, townhouses and condotels wrapped around an operating 27-hole KN Golf Links course, Wyndham hotel cluster and 11.2 ha water park, all within 5 minutes of Cam Ranh airport.
A 794-hectare integrated coastal mega-city by KN Holdings on Bãi Dài beach next to Cam Ranh International Airport, with nearly 5 km of beachfront. The masterplan combines themed townhouse and villa subdivisions with the 27-hole KN Golf Links course, a Wyndham Grand hotel, a 11.2-hectare water park, a 10-hectare central plaza and a yacht marina under a single hospitality-led operating model.
Balanced for both homeowners and investors.
The most amenity-complete single-developer beach city in Khánh Hòa — operating golf, Wyndham hotel and nearly 5 km of Bãi Dài in one master-planned address. The core tradeoff is that all urban services require a 45-minute drive and rental yields depend on Khánh Hòa's tourism cycle.
Homeowner: A sound second-home buy for homeowners who align with the resort concept. The operating KN Golf Links and Wyndham Grand hotel deliver genuine lifestyle value today; the CaraWorld Water Park targeting end-2026 adds the family-amenity tier. The honest limitation is urban utility: hospitals are 26 km away, schools 24 km, and a full day's errands requires driving 45 minutes to Nha Trang — tolerable for weekend owners, not for daily commuters.
Investor: A credible yield-play for the central coast, not a deep-discount entry. The Wyndham rental programme and Khánh Hòa's tourism rebound (9.2M visitors H1 2026) create a real occupancy case; BIDV's 5-year strategic financing reduces developer-failure risk. Watch three things: Sông Town's 1,868-unit supply caps secondary appreciation in the near term, rental yield data is still thin, and yields remain tied to a tourism cycle the investor does not control.
| Unit price | 4,5 tỷ – 45 tỷ |
| Rent | 35 triệu – 50 triệu/mo |
| Launch price | 75 triệu/m² |
| Project | Price | Distance |
|---|---|---|
| CaraWorld Cam Ranh | 75 triệu/m² | — |
| KN Paradise / Golden Bay Cam Ranh | Slightly lower entry; older masterplan from same developer family | Adjacent on Bãi Dài, less integrated amenity build-out |
| Vinpearl Bãi Dài | Comparable per-m²; condotel-heavy mix versus low-rise villa mix here | On the same Bãi Dài strip, run as a single resort destination |
| Mövenpick Cam Ranh Resort & Spa Residences | 10–15% premium for full branded condotel positioning | Smaller condotel-only project, no golf or large townhouse component |
Primary pricing is entering the record for the first time across Sông Town's three themed sub-districts (~75M/m²) and newer Para Sol sub-zones (Nikko Park ~85M/m²), while Para Hera and Shirin Mansion establish the luxury ceiling at ~100M/m².
| Developer | KN Holdings |
| Status | 3 of 5 delivered |
| Total Units | 5500 |
| Launch Date | 2019 |
| Construction Permit | Approved |
| Pink Book | Partial |
| Legal Notes | Low-rise products (villas, townhouses, shophouses) carry permanent residential ownership for Vietnamese buyers; foreign ownership is via 50-year leasehold. Pink books fully issued in handed-over Para Draco and Para Grus sub-zones; Para Sol Sun Park and Nikko Park sub-zones actively issuing after 2025 handover; Sông Town pending post-2026 handover. Cam Ranh International Yacht Marina and casino complex (148 ha, ~USD 2.06 billion) approved by Khánh Hòa Province August 2025, construction commencement expected 2026. BIDV and KN Holdings signed a 5-year strategic cooperation agreement on 23 January 2026. KN Holdings received three accolades at Vietnam Property Awards 2025: Best Multi-Sector Developer, Best Coastal Mega Township Development (CaraWorld), and Best Coastal Housing Development (Sông Town). Chi Thanh–Vân Phong expressway (48 km) fully opened 18 May 2026, completing the unbroken North–South expressway through Khánh Hòa. Ministry of Construction approved formal Cam Ranh airport expansion plan (Decision 872/QĐ-BXD, 24 May 2026): 19M pax/year by 2030, 36M by 2050, second runway (3,350 m) planned, total investment approximately VND 39 trillion. Khánh Hòa welcomed 9.2 million visitors in the first five months of 2026, up 53% YoY, with 3.8 million international arrivals (+66% YoY); province on track for 18.8 million total for 2026. Cam Ranh International Airport ranked top 10 cleanest airports globally in 2026, the only Vietnamese airport in the ranking; new international routes added to Seoul, Osaka, Dubai and Doha in 2026. Developer: Công ty TNHH KN Cam Ranh, member of KN Holdings. |
CaraWorld Cam Ranh
| CBD (peak) | 1h to Nha Trang on summer weekends with tourist traffic on Nguyễn Tất Thành |
| CBD (off-peak) | 45 min via Nguyễn Tất Thành coastal road |
| Airport (peak) | 10 min — short coastal hop, rarely congested |
| Airport (off-peak) | 5 min direct via Nguyễn Tất Thành |
Predominantly second-home owners and short-term rental investors from Hà Nội and HCMC, with a smaller cohort of Cam Ranh and Nha Trang locals in the shophouse units. Foreign vacationers cycle through the Wyndham-managed villas and hotel rooms.
