Nakheel to re-invest in Ha Long Star project

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The United Arab Emirates-based real estate developer Nakheel will re-invest in the Ha Long Star urban tourism project in the northern Quang Ninh province in January 2015.

A perspective view of Ha Long Star urban and tourism project invested by the United Arab Emirates-based real estate developer Nakheel. — Photo dddn.com.vn

HA NOI (Biz Hub) — The United Arab Emirates-based real estate developer Nakheel will re-invest in the Ha Long Star urban and tourism project in the northern Quang Ninh province in January 2015.

The Dau Tu (Investment) newspaper reported that the commitment was made in a recent official visit to the UAE by Viet Nam's Deputy Prime Minister Nguyen Xuan Phuc.

The 125ha, US$550-million project aims to build a five-star hotel with 250 rooms, a luxury hotel with 100 rooms and 226 villas, as well as 114 apartments and a commercial centre.

Though its groundbreaking ceremony was held in 2007, the project has been delayed due to the corporation's financial difficulties.

The Nakheel Group implements a wide range of projects in commercial, residential, retail and leisure sectors. It is the main investor of various leading projects in Dubai, including the Palm Jumeirah Island. — VNS

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