Major project makes headway in Kon Tum

20/05/2008

Construction on a five-star hotel within the Bo Y international border gate’s economic zone in Kon Tum Province worth US$800 million was started yesterday by the Global Investment Enterprise Corporation (GIEC).

This was the largest project of its kind in the Central Highlands province in terms of investment capital and scale. The 800-room hotel would see completion in three and a half years.

On this occasion, the economic zone’s management board also licensed three big projects, including the VND500 billion ($31.15 million) Tay Bo Y urban zone, covering an area of 28.5 ha. The project was invested in by the Hoang Lam Investment Joint Stock Company.

Two other projects were the 50 ha An Thinh ecological zone, invested in by Thuy Trang Joint Stock Company, and the 18.1ha high-class Dong Duong urban zone, with a VND1.1 trillion ($68.5 million) investment by 515-9 Investment and Construction Joint Stock Company.

Urban areas

Real estate developer VK Highlands late last week began construction on a VND3 trillion (US$186.9 million) urban area in Pleiku City, in the Central Highlands’ province of Gia Lai.

The 120ha urban area, which would include villas and garden houses in addition to clinics, schools and recreational parks, was the largest project of its kind in the province.

On the same day, VK Highlands also broke ground for construction worth a combined VND1 trillion ($62.3 million) on the Hoi Phu trading centre, a housing area and welcoming gates for the city.

The above works were scheduled for completion by 2012.

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