Giant complex comes up to par

December 21, 2010 | 09:10

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The massive $2 billion Hoang Dong Lang Son golf course and hotel complex has announced the first phase of its sale plan.

Within the project’s first sales phase, 48 out of 240 high-class semi-detached houses will be offered to public, distributed via the sole sales agent Netreal Vietnam Real Estate Brokerage.

According to Netreal Vietnam’s chairman Vu Hoai Vu, all the semi-detached houses' superstructure have been fully completed and some $1 billion had been disbursed so far, Vu added.

“The semi-detached blocks included in the project target high-income consumers with about VND50 million ($2,500) to VDN100 million ($5,000) in their monthly income or have idle cash flows of VND1 billion ($50,000) per year,” said Vu.

The huge project, developed by Lang Son International Joint Stock Company, is described as the first casino city in Vietnam with work starting in 2010.

The project will be completed in 2012, in which 240 semi-detached houses are completed in 2011’s second quarter, 192 additional ones and 100 villas will be finished in 2012’s fourth quarter. In 2012, three hotel buildings will go into operation.

The investor Lang Son International’s 51 per cent stake is held by Taiwan’s Kai Cheih International Investment, that is also investing in a series of entertainment complex projects for foreigners living and working in Vietnam.

They are hotel and entertainment complex in northern Quang Ninh province and high-class apartment blocks in West Lake in Hanoi.

>> $2 billion Hoang Dong Lang Son golf course unveiled

By Hai Linh

vir.com.vn

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