According to the company’s standing vice chairman, Le Thanh Vinh, the main component would be a sports complex centered around a covered 100,000-seat stadium, which would be among the world's largest and most modern and capable of hosting international events.
It is planned to be built in Dong Anh, Me Linh or Soc Son Districts, with the first phase costing around VND25 trillion ($1.07 billion).
It will also have a golf course, a Formula One race track, five-star hotels and resorts, an international conference center, an entertainment complex, a commercial and financial center, convalescence resorts, an international summer camp for children, a horse racecourse, a zoo, a theme park, a central square, and an outlet center.
It will spread over 1,000-2,000 hectares (2,500-5,000 acres) according to the group's estimation.
FLC said if the project receives approval, it would itself develop and operate the entire complex, ensuring everything meets design standards through their life cycle.
It also promised that the complex would be planned to harmoniously fit into the area's master plan and be well connected, especially with Noi Bai International Airport.
FLC Group is one of Vietnam’s largest conglomerates with extensive interests in real estate, agriculture, aviation, and labor export.
Bamboo Airways, Vietnam's fifth carrier, which began flying earlier this week, is the group’s newest venture.