With anestimated investment of 600 billion VND (31.2 million USD), the projectwill include ten 12-storey blocks of apartments, covering an area of 3hectares in Dang Xa residential area, 10 km east of Hanoi.
Viglacerasaid it would offer 1,000 low-cost apartments, ranging from 45-69 s.q.meach, to the market upon completion of the project, which is expectedin a year and a half.
Nguyen Anh Tuan, Viglacera GeneralDirector, said since being able to design and construct the buildings byitself, the group is able to lower the construction costs of eachapartment by 10-15 percent while still ensuring their quality andsafety.
Building materials used for construction are environmentally friendly and produced with the most advanced technology, he added.
Onthe same day, Viglacera started work on the Viglacera Research andDevelopment Institute which will mainly engage in research consultancyand scientific cooperation concerning construction materials,verification of input materials, environmental monitoring andtechnological transfer./.