HD Bank inks loan deal for Da Nang condotel project

Friday, Dec 09, 2016 16:41

The HCM City Development joint-stock bank (HD Bank)and Ariyana joint-stock company agree a VND1.7 trillion (US$75 million) loan in HCM City. — VNS Photo Truong Ngoc Thanh

The HCM City Development joint-stock bank (HD Bank) has agreed a VND1.7 trillion (US$75 million) loan to investors in the Ariyana beach resort and suite Da Nang projects for a 30-year term.

General Director of Ariyana joint-stock company, Nguyen Canh Son said the deal, which was signed in early December, will help investors access capital at a favourable interest rate.

He said the Ariyana Beach Resort and Suite Condotel project started construction from 2015 with total investment of VND4 trillion ($178 million) on a coastal area of 4ha of Non Nuoc Beach in Da Nang city.

He said the 27-storey project, which includes the Ariyana International Urban and Tourism Complex, will provide 4,000 rooms by the second quarter of 2018.

He said the company has been building a 3,000-seat conference and exhibition centre in the project for the 2017 Asia-Pacific Economic Co-operation Summit to be held in Da Nang next year.

According to Da Nang city’s investment promotion board, tourism real estate remains a popular investment in the central city, attracting 25 foreign direct investment projects worth US$1.8 billion.

The city has so far developed 16 tourist property projects consisting of 749 villas, 609 of which are for sale and 140 for lease. — VNS

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