Hong Kong, Vietnam Investors Plan Big Property Project

Rich Fine, a wholly-owned subsidiary of the Hong Kong-listed Leroi Holdings Limited, signed a deal with Vietnam’s Nguyen Hung Company last week to jointly carry out a US$200 million real estate project in southern Vietnam, Leroi’s press please said.

 

The two investors will build a complex including a golf course, luxury villas, and a residential area.

 

The 586-hectare work will be located in Duc Hoa district in Long An province, some 50 kilometers of southwest of Ho Chi Minh City.

 

However, more details about the project has not made available at the moment, the new source said.

 

Many foreign and domestic investors have great interests in golf course projects in the Mekong Delta Long An province, local state media said, adding that eight of them are awaiting licenses. Of the eight, four belong to South Korean businesses, and the rest are of the domestic ones.

 

The provincial authorities have granted investment licenses to South Korean-based Hyoil to build a US$58-million golf and resort project by the Vam Co Tay River in Thu Thua district. The project will be finished by 2010. (Leroi’s Press Release, Thanh Nien Daily)