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Works starts on trade centre
The Daewon Thuduc Housing Development Joint Stock Company yesterday kicked off construction for its US$47 million multi-use complex, the Cantavil Premier.
In the An Phu Ward of District 2, the Cantavil Premier will sit on more than 11,000sq.m. of land, with around two-thirds of the acreage being allocated for green space.
Two 36-floor towers will house 184 high-end apartments and 16 penthouses for sale and rent, and two parking basements.
A 30,000sq.m. international trade centre would include office space, a food court and a cinema, the company general director, Howang Yu Nam, said. There would be an entertainment area for children and other facilities,
This Cantavil Premier, which should be completed in 2012, is the second phase of a larger project, the Cantavil An Phu, whose first 390 apartments opened in December 2006.
The Daewon Thuduc Housing Development Corp was established in 2004 with the South Korean partner holding a 60 per cent stake, but was converted to joint stock status in 2007. Thuduc House, began operation almost 20 years ago, is now listed on the HCM Stock Exchange.
Daewon began investing in Viet Nam in 2000, focusing on textile, garment and apartment construction industries, according to Daewon chairman Chun Young Woo.
The two partners have signed a new joint venture contract to invest in another apartment project, the Centum: a new brand under the Thuduc umbrella in the city’s District 9, according to Le Chi Hieu, general director of Thuduc House.
The South Korean company has collaborated with different partners for multiple projects around the country, though, including the innovative Da Phuoc International New Town, which covers 210ha in Da Nang’s Hai Chau District. Around 180ha of the total acreage will be reclaimed from the sea.
vietnamnews
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