Mountain Pickleball
in Hanoi's Green Highlands
A highland retreat just 90 minutes from Hanoi with mountain-view courts, hot springs, and cool mountain air. Targeting the capital's growing sports tourism demand.
Total CAPEX
₫8.5B
Projected NOI
₫195M/mo
Payback
~3.8 yrs
Location
Hanoi Region
Investment Progress
Funding Status
255M VND
Target: 8.5B VND
1
Investors
240
Days Left
300M
Min. Investment
Section 1
Capital Expenditure (CAPEX) Breakdown
All-in development cost of 8,500,000,000 VND. Line items below reflect current Northern Vietnam contractor and materials pricing (Q1 2026).
Land Acquisition (1,500m² highland)
Highland property in Ba Vi district, 90 min from Hanoi center
2500M
31.3%
Construction & Cabins
10 mountain-view timber cabins with heated floors
2200M
27.5%
Pickleball Courts (2 courts)
2 professional courts with mountain backdrop and LED lighting
800M
10.0%
Hot Spring Facility
Natural hot spring pools with changing rooms and relaxation area
700M
8.8%
Community Pavilion
Restaurant, BBQ area, and indoor gathering space
500M
6.3%
Sauna & Wellness
Finnish sauna, steam room, and mountain-view cold plunge
400M
5.0%
Landscaping & Trails
Mountain gardens, hiking trails, and nature paths
350M
4.4%
Utilities & Infrastructure
Road access improvement, solar panels, and water treatment
350M
4.4%
Permits & Contingency
Construction permits, environmental clearance, and 5% contingency
200M
2.5%
Total CAPEX
8.000.000.000
VND
Section 2
Financing Structure & Debt Service
Structured with 30% equity and 70% bank financing at current Northern Vietnam lending rates.
Self-Funded Equity (30%)
30%
2.550.000.000 VND
Requested Loan (70%)
70%
5.950.000.000 VND
Principal: 49.6M · Interest: 27.4M
Decreases over 10 years as balance reduces
Section 3
Revenue Model
Core Revenue
10 mountain-view cabins at stabilised occupancy
2 professional courts, hourly and session-based
Additional Packages & Upsells
Extra RevenueDay pass and overnight hot spring access packages
Professional pickleball coaching sessions
Guided village and craft workshop tours
All-day beverage packages
Total Monthly Gross Revenue
255.000.000
VND / month (at stabilised occupancy)
Section 4
12-Month Revenue Projection
12-Month Revenue Projection
Realistic ramp-up as marketing and referral network build in the Hanoi market
Month 1 (Launch)
63M VND
~30% capacity
Month 3
117M VND
Hanoi word-of-mouth
Month 6
189M VND
Marketing effect
Month 12
255M VND
Stabilised
Section 5
Operating Expenses & Profitability
Operating Expenses (OPEX) — Explicit Breakdown
Section 6
2026 Legal & Tax Incentives — Highland Development Benefits
Three major 2026 Vietnamese policy shifts directly benefit this highland project:
CIT Exemption — Decree 20/2026/ND-CP
As a newly registered SME in a developing highland zone, the project qualifies for a 3-year Corporate Income Tax exemption, followed by a 50% reduction for the next 4 years. This preserves ~136M VND/month for reinvestment during scale-up.
Highland Tourism Development Zone
Under the 2026 Tourism Law amendments, highland hospitality projects in Ba Vi and surrounding districts receive expedited permitting and reduced land-use fees, supporting sustainable mountain tourism development.
Construction Permit Exemption
Structures under 7 stories in highland/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 192M/month, the project remains cash-flow positive even if rates spike to 18% (debt service would rise to ~75M vs. NOI of 192M).
Hanoi Proximity Advantage
Just 90 minutes from Vietnam's capital (population 8.5M+), the project benefits from massive domestic demand. Weekend getaway culture from Hanoi provides consistent year-round bookings regardless of international tourism trends.
Highland Land Appreciation
The 1,500m² Ba Vi highland property is an appreciating asset. Northern Vietnam highland land prices are trending +10–15% annually in 2026 due to infrastructure development and Hanoi's expanding urban footprint. Exit value grows independently of operations.
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