Bitexco, Vingroup licensed to build residential projects

Wednesday, Aug 26, 2015 16:10

Graphic image of Green City project of Vingroup. — Photo

HA NOI (Biz Hub) — The Ha Noi People's Committee has granted investment licences to the multi-industry group Bitexco and real estate developer Vingroup to develop two urban projects.

Bitexco will build Manor Central Park in the first phase, which will cover nearly 100ha spread across Dai Kim Ward, Hoang Mai District, and Thanh Liet Commune in Thanh Tri District.

The park is a multi-functional urban area comprising villas, apartments for sale, shopping malls and a park, among others. With a total investment of $1.9 billion, the project is expected to begin construction in the fourth quarter of this year and be completed within five years.

Meanwhile, the VND4.85-trillion ($215.5 million) Green City will cover an area of 17.6ha in Cau Dien Ward in Nam Tu Liem District.

With Hong Ngan Real Estate JSC under Vingroup as the investor, Green City will be a multi-functional residential project, comprising villas, gardens, shops and high-rise apartment blocks, as well as schools at all levels and a medical clinic.

The construction of the project is also expected to begin in the fourth quarter and be completed within the next four years. It is estimated to accommodate about 8,760 people upon completion. — VNS

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