Kumho to Invest Additional US$32 Mln in HCMC's Property Project
Bok Sang Chang, CEO of Kumho Asiana Plaza Saigion Co recently said his company will invest an additional US$32 million into its Kumho Asiana Plaza in Ho Chi Minh City, bringing the total investment to US$255 million due to increasing prices of construction materials.
So far, construction materials have jumped 10 per cent-30 per cent, construction steels surged 30 per cent, cement, bricks and sands soared between 5 per cent and 15 per cent in the city.
Kumho Asiana Plaza, the biggest project Kumho group has invested in the city, will include a five-star hotel with 300 rooms and 270 high-class apartments.
Chang said his group has completed 15 per cent of the construction workload and is scheduled to open in August 2009. Kumho chose Collier International Vietnam to be a marketing advisor and sole project manager. (VietnamNet)
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