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$150m property project kicks off in HCM City
(01-09-2007)
HCM CITY — Hao Quang Trading and Services
Co. and Hiep Phu Thinh Joint-Stock Company
yesterday broke ground for a $150 million
Richland Hill Complex project in Hiep Phu
Ward in HCM City's District 9.
This is the first project in the country to
be designed as a high-rise with an overhead
garden, a popular architectural style in
cities like New York and Chicago.
Designed by Ove Arup Hong Kong in partnership
with the Construction Ministry's Nagecco, the
complex will includ the 18-storey Athena
Building containing commercial and office
space; the Zeus Building, with a five-storey
trade and entertainment centre and four
28-storey apartment towers; and the Apollo
and Poseidon Buildings, with three 22-storey
apartment towers each.
Construction is scheduled to be completed by
2011, and sale of apartments will begin in
mid-2008.
Development consultancy was provided by Thai
Thinh Capital, with financing from East Asia
Bank.
CEO of Thai Thinh Capital, Tran Thanh Vinh,
said: "We chose to locate the Richland Hill
in District 9 since this is a gateway to HCM
City, and a focal area for economic
development in the near future. Construction
of Long Thanh International Airport will help
boost the growth of District 9."
Speaking about the local property market,
Vinh said rumours about the frozen property
market in Viet Nam were "completely untrue".
"In many years to come, demand will exceed
supply and real estate will remain one of the
hottest markets," he said. — VNS
Source:
http://vietnamnews.vnagency.com.vn/showarticl
e.php?num=04BUS010907
VNDIGITAL - MEDIA FROM VIETNAM.
Tags : richland hill condo apartment luxury project complex ha noi city construction structure viet |
