Asian Coast Development (ACDL) has unveiled plans for a US$4.2bn (3.2bn euro, £2.6bn) resort complex in Ba Ria-Vung Tau Province in southern Vietnam, with the first phase expected to open this year.

ACDL received approval from the Government of Vietnam to develop Ho Tram Strip resort which features five large-scale luxury resorts and two entertainment centres on 405acre of beachfront.

Spanning 2.2km of beachfront in Ho Tram, the multi-site property is being developed by ACDL and planned to be the largest tourism complex in Vietnam.

MGM Grand Ho Tram Beach, a luxury resort and entertainment destination, will be the first component of the complex and is expected to open this year.

Owned and financed by ACDL, MGM Grand Ho Tram Beach will be under the management of MGM Resorts International.

The first phase will feature a variety of recreational activities, a luxurious spa, food and beverage venues and state-of-the-art gaming facilities.

The resort will also house 541 guest rooms, a conference centre and gaming area consisting of 90 live table games, 500 electronic games and exquisite VIP facilities.

The second phase of the MGM Grand Ho Tram Beach incorporates a new tower containing 559 additional guest rooms.

When complete, the MGM Grand Ho Tram Beach will comprise 1,100 five star hotel rooms, including suites and villas. The Company will add 500 electronic games, bringing the total to 1,000.

ACDL company's chief executive officer, Lloyd Nathan, said: "The first tower of the MGM Grand Ho Tram Beach and all of its related leisure amenities are close to completion and will be open early 2013. In addition, full construction on our Greg Norman Golf Course has been underway for several months and is also on track to open in 2013."