Hoi An to get a polished make-over

November 14, 2010 | 15:25
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Binh Thien An has dropped the curtain on its second project, the Hoi An Cultural Tourist Urban Area.

Expected to begin work next year, the project will be located on  350 hectares, at the gate of Hoi An

The developer pledges to retain the town’s world famous charm

old town in central Vietnam. It will consist of a complex of hotels and resorts, which will provide around 1,000 rooms to the market.

The company said it would preserve Hoi An’s landscape and upgrade its traditional cultural villages without local resident removal.

Binh Thien An also presented its first project, Diamond Island, at the annual real estate exhibition, MIPIM Asia held in Hong Kong last week.

Diamond Island is located in Ho Chi Minh City’s District 2. It is a high-end residential project located next to the Thu Thiem new urban area.

Expected to be completed next year, its design concept utilises the advantages of the environment surrounded by the Saigon and Giong Ong To rivers.

Binh Thien An is a real estate business company established by Kazakhstan-based Kusto Group, an international investment corporation focused in the industries of oil, mining and real estate.

With an investment of $1.5 billion in Vietnam, Binh Thien An is set to become a major player in one of the fastest growing markets in Asia.

The Kusto Group has so far managed a number of projects seeking oil, molybdenum and gold in Kazakhstan in partnership with PetroVietnam.

The Kusto Group also has real estate investments in Vietnam, Russia, Ukraine and Kazakhstan. Additionally, Kusto Group has banking investments in Kazakhstan, Russia and other countries.


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