The South Korean developer of the North An Khanh development in Ha Tay province has confirmed the ambitious $2 billion project is right on track.
Much of the project’s site has been cleared and is ready for action
Sohn Jukweon, deputy general director of the An Khanh New City Joint Venture company, said he was happy 99.6 per cent of project’s area had met clearance and compensation requirements. “This is a very difficult task and we know that there are very few projects which can clear 99.6 per cent of such large-scale project covering 264 hectares,” Jukweon said.
The developers have also completed designing infrastructure systems such as power, drainage and fresh water and the project’s master plan. A model house and marketing centre will be built next month and Jukweon said the first products would be sold before June, next year.
The project, located to the west of Hanoi in Ha Tay province near the Lang-Hoa Lac highway, is being developed by Posco E&C and Vietnam’s Vinaconex. Jukweon also talked down rumours that Posco was finding ways to transfer the implementation rights of this project.
“We are committed and on the right track,” he said.
He said other investors if available could only become sub-contractors to the huge project.
The township includes the An Khanh, Lai Yen, Song Phuong and Van Canh communes in Hoai Duc district.
It will feature a complete modern infrastructure system, including public facilities, trading and cultural service areas and high-end accommodation.
Scheduled for completion in 2013, the city will be divided into high-rise buildings, villas and semi-detached houses, offices for lease, a trading centre and supermarkets. It is expected to include 6,440 apartments, equivalent to 392,319 square metres of accommodation, or enough for about 30,000 people. Apart from the North An Khanh City project, Posco E&C and Vinaconex are also cooperating to implement the $336 million expansion of the Lang-Hoa Lac expressway.