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Malaysian developer starts on complex
Construction began on Sept. 9 for the 2.5ha Bien Hoa City Square , a modern complex comprising a five-star hotel, an office tower and hi-rise residential apartments.
The complex is being built in Bien Hoa City , around 30km from HCM City , by joint venture company Berjaya D2D.
The 230 million USD complex will have a luxury hotel of over 260 rooms, as well as a 20-storey office tower including a three-floor retail podium and one floor dedicated to recreational facilities. It will also have 550 serviced apartments.
Francis Ng, President of the Malaysian company Berjaya Land Berhad, senior partner in the joint-venture, said the complex would be completed in five years.
Berjaya D2D is a partnership between Berjaya Land affiliate Berjaya Leasure Cayman and the Industrial and Urban Development Joint Stock Company (D2D). The foreign partner has a 75 percent stake in the venture, with the remaining stock held by the domestic partner.
Berjaya Land has a licence in hand for an even bigger project, the 3.5 billion USD Vietnam International University Township , covering more than 900ha in the outlying HCM City district of Hoc Mon. This project is expected to kick off early next year.
The Malaysian developer’s other projects include the 930 million USD Vietnam Financial Center in HCM City and the 500 million USD Thach Ban New City in Hanoi.
VNA
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