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Rockefeller family-backed fund to develop $2.5 billion residential and hotel project in Vietnam.

Rose Rock Group, a Rockefeller family-backed alternative investment management firm, will help develop a $2.5 billion residential and hotel project on the south-central coast of Vietnam.

The Vung Ro Bay development covering 200,000 square meters (2.15 million square feet) will be developed with Vung Ro Petroleum Co., a Tuy Hoa, Phu Yen province-based oil company.

The Vung Ro Bay development enclave will comprise several hotels with over 760 rooms, 4,300 apartments, 100 luxury townhouses, a variety of retail shops and 350 marina berths.

Vung Ro Bay, Vietnam

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