New housing project, model condo launched

Developers and guests make a symbolic gesture at the groundbreaking ceremony of Hoang Phat new urban area in Bac Lieu - Photo: Le Toan

HCMC - Bac Lieu has seen the first new urban area development project getting off the ground while in HCMC a local property developer has launched a model apartment of a big housing project for public viewing.

Hoang Phat Construction and Investment JSC is teaming up with Lilama Land to develop Hoang Phat new urban town covering some 66 hectares along Bac Lieu City’s entrance and main streets.

Hoang Thanh Long, general director of Hoang Phat Co, said some VND500 billion would be spent on the project to build about 2,000 housing units for around 10,000 people. The project will consist of amenities such as school, hospital, student dorm and commercial section.

Meanwhile, Duc Khai Corporation launched a model apartment gallery for a condo project in HCMC’s District 7 over the weekend to house families that have been relocated to make room for other projects.

The corporation is investing VND4.3 trillion in the project on 10 hectares to construct around 1,000 apartments for relocated families in the city.

When the land-for-home project is complete, Duc Khai will decide the number of apartments to be exchanged for land, and publicly sell the remainder to recoup its investment capital.

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Work starts on Metro 2 highway

HCM CITY — HCM City has started work on Metro No2 highway backed with US$1.25 billion borrowed from the Asian Development Bank, European Investment Bank and Kreditanstalt Fur Wiederaufbau (Reconstruction Credit Institute). The 20km-long road will stretch from the new urban area of Thu Thiem to An Suong bus station. It is expected to be open in six years.

15-floor housing block under way

HCM CITY — Pacific Property and Infrastructure Development JSC (PPI) and Hung Thuan Investment Joint Stock Co started work on an office and residential building in HCM City last week. It will cost VND213 billion (US$10.92 million). The project will cover 20,279sq.m and include 15 floors and a basement.

New urban area for Hung Yen

HUNG YEN — Work has started on the 92.5ha Long Hung urban area in the northern province of Hung Yen.

The project will cost VND2.48 trillion (US$127.33 million). This year, about VND1.29 trillion ($66.61 million) will be spent for ground clearance and compensation.

Hoan Kiem trade centre to open

HA NOI — The VND250 billion (US$12.82 million) Hang Da Trade Centre project will open in Hoan Kiem District later this year. The project, covering 9,312sq.m and including five floors and two basements, will provide a retail area of nearly 7,000sq.m leasing at $6,000-10,000 per sq.m. — VNS

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Work starts on Ocean Window development

KHANH HOA — Eurowindow Nha Trang Investment and Tourism Joint Stock Co broke ground on the Ocean Window Spa and Resort on Wednesday. The 34.2-ha project has VND1 trillion (US$51.28 million) in investment capital. It will include a five-star hotel, spa, restaurant and bar, shopping centre, events' centre, sports centre and beaches. The resort, in central Khanh Hoa Province, is expected open for business in 2013.

New urban area projects invested

HA NOI — Housing and Urban Development Holdings (HUD) has made plans to invest in four new urban area projects in the capital. The projects include expansion of the Nam An Khanh new urban project, a new urban project around Linh Dam Lake, the Mai Trai - Nghia Phu new urban project, and the 55ha Thanh Lam - Dai Thinh 2 project.

Courtyard's second phase begins

HCM CITY — Sai Gon-Ham Tan Tourism Corporation began the second phase of its Courtyard project for Marriott – Ham Tan. Sai Gon Invest Group has invested VND81 billion (US$4.2 million) in the project. The hotel will occupy a 6ha area and include a restaurant, an entertainment area, a swimming pool, a kids' club, and a spa and massage parlour. It is slated for completion in 2012. — VNS

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