(NDH) The real estate market tend to increase more slowly than other cities 1-2 years, Hodeco is promoting the exploitation of real estate projects in Vung Tau City.
Ba Ria – Vung Tau Housing Development Joint Stock Co (coded HDC) has recently received a decision of the Ba Ria-Vung Tau Provincial People’s Committee approving the technical infrastructure project of Phuoc Thang Urban Area 12, Vung Tau city.
The project is located in the north by the Cay Khe River, in the West of Song Gia River, in the north-east by Highway 51, in the south by Phuoc Thang Industrial Complex and 30/4 Road.
The project area is 753/551 m2, of which residential land occupies 50.87%, equivalent to an area of 383,433 m2, in addition to public land, green land and transport land.
Total investment of the project is VND 1,497 billion. The timeframe follows divergences within the 10 years from 2015 to 2017.
Hodeco is a real estate developer with well recognized brand name in Ba Ria Vung Tau province. Despite having a large land bank, Hodeco is very cautious in developing projects to avoid risks.
At the Annual General Meeting of Shareholders in 2017, Mr. Doan Huu Thuan, Chairman of the Board of Directors, assesses that the business environment is becoming more competitive. Along with the shift of the focus of economic development to service and tourism in the locality and characteristics of the real estate market in Vung Tau is usually 1-2 years slower than the big cities. Hodeco’s Board has decided to speed up the clearance work, exploit many projects.
Recently, Hodeco has also held the groundbreaking ceremony of the 5 * Suites at Fusion Suites Apartments in HCMC. Vung Tau. This project is located in the heart of the city with 3 facades: Truong Cong Dinh, Phan Boi Chau, Nguyen Cong Tru, close to Ha Long Road – the most beautiful street in Vietnam.
It is expected that the project will be completed after 24 months of construction and put into operation in the third quarter of 2019 under the management and operation of Serenity Holding (Netherlands) to contribute to Hodeco’s growth in the coming years.
Hoang Trung – ndh.vn
