2 bln USD Malaysian urban scheme gets go-ahead
Malaysian property developer Berjaya on
Nov. 4 received the licence to build the Nhon Trach New Urban Area in
southern Dong Nai province.
Malaysian property developer Berjaya on
Nov. 4 received the licence to build the Nhon Trach New Urban Area in
southern Dong Nai province.
To cost around 2 billion USD, the urban area will be developed on an area of 600ha spread over the three communes of Long Tan, Vinh Thanh, and Phuoc An.
“This will be a modern, multifunctional urban area with adequate infrastructure,” said Le Hoai Nam , chief executive officer of Berjaya Leisure (Cayman) Ltd, a subsidiary of the Malaysia-based Berjaya Land Bhd (B-Land).
The area will have an administrative centre on 29ha, a trade centre (69ha), a cultural centre (23ha), and residential facilities (252ha).
Construction will be done in four stages – by 2013 planning and land-related tasks will be completed, in 2013-15 medium-density residential facilities built along Road 25C; by 2018 high – and medium-density residential facilities built; and by 2020 the remaining work done.
The Prime Minister approved the project last month and entrusted the Dong Nai province People’s Committee with wrapping up the nitty-gritty related to its licensing.
This is the biggest foreign direct investment project licensed in Dong Nai this year, and is the company’s second there./.
To cost around 2 billion USD, the urban area will be developed on an area of 600ha spread over the three communes of Long Tan, Vinh Thanh, and Phuoc An.
“This will be a modern, multifunctional urban area with adequate infrastructure,” said Le Hoai Nam , chief executive officer of Berjaya Leisure (Cayman) Ltd, a subsidiary of the Malaysia-based Berjaya Land Bhd (B-Land).
The area will have an administrative centre on 29ha, a trade centre (69ha), a cultural centre (23ha), and residential facilities (252ha).
Construction will be done in four stages – by 2013 planning and land-related tasks will be completed, in 2013-15 medium-density residential facilities built along Road 25C; by 2018 high – and medium-density residential facilities built; and by 2020 the remaining work done.
The Prime Minister approved the project last month and entrusted the Dong Nai province People’s Committee with wrapping up the nitty-gritty related to its licensing.
This is the biggest foreign direct investment project licensed in Dong Nai this year, and is the company’s second there./.
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