The developer has been ordered to demolish the partially completed structures and clear the site within four months.
Nguyen Thanh Tung, head of the Phu Quoc Economic Zone Management Board, announced on Thursday that the resort is one of more than 20 projects in the island's special administrative zone that have had their investment approvals revoked due to prolonged delays.
The revocation is part of a broader effort to reduce land waste, improve the urban landscape, and prepare Phu Quoc to host the 2027 APEC Economic Leaders' Week.
The abandoned, unfinished Sheraton Phu Quoc Resort. Photo by VnExpress/Chi Hao
Developed by Vien Dong Phu Quoc Co., Ltd., the Sheraton Phu Quoc Resort project was first approved in 2013, with its investment policy later revised in 2023. The development is currently more than two years behind its committed construction schedule.
