Hacom Holdings Investment JSC commenced construction of the residential project Premium Ocean Gate in Ninh Thuan Province on March 3.

Hacom Holdings Investment JSC commenced construction of the residential project Premium Ocean Gate in Ninh Thuan Province on March 3.

The project comprises 12 low-rise apartment blocks in Binhson Ocean Park, covers 54 ha of land and has an initial outlay of around VND10 trillion (US$420 million).

Of the outlay, VND1.2 trillion would be allocated to technical facilities, VND2.5 trillion to the apartment blocks, and the rest to other subdivisions, including the Ocean Villas, Ocean Sky and Ocean Central.

Construction work will take around 24 months. Once finished, the project would bring 350 new commercial apartments to the market.

Hacom Holdings Chairman Tran Phu Chien said apart from commercial housing his company would also invest in affordable housing to make them available to more low-income families, contributing to the target of one million affordable apartments set by the Ministry of Construction.

He said the company would launch another residential project in Binhson Ocean Park this September, comprising six 15-storey buildings and one 25-storey, to offer 2,119 apartments to low-income homebuyers. — VNS