Construction of King Crown Village, a high-end property project, began on Wednesday in HCM City’s District 2.

The 9,125sq.m development, to cost VND1.4 trillion (US$60.5 million), will be done in two phases, with 17 villas built in the first and a 25-storey building with service apartments, offices and a five-star hotel in the second.

It is designed by international architecture and design firm Zone Architect in contemporary French style and built by An Phong Construction JSC.

Situated on Nguyen Van Huong Street, it is the last riverfront villa project in Thao Dien Ward, which has attracted some of the city’s wealthiest.

Nguyen Ho Nam, Bamboo Capital Group (BCG) chairman, said: “King Crown Village is a solution to the situation that demand has exceeded supply in the high-end property segment. According to experts, this segment will continue to grow for the next three to five years.”

The project is invested by Sao Sang Sai Gon Corporation, a subsidiary of BCG. — VNS