Vinhomes to invest US$981 million in Haiphong residential project
The project is expected to be home for 48,00 people.
Real estate developer Vinhome JSC, a member of the Vingroup conglomerate, will invest VND23.2 trillion (US$981.2 million) in a housing project in the Northern city of Haiphong.
Vinhomes Smart City in Hanoi, a housing development by Vinhomes JSC. Photo courtesy of Vinhomes |
The new urban area will cover an area of 241 hectares in Hoa Nghia Ward, Duong Kinh District, and Dong Phuong and Dai Dong communes, Kien Thuy District. The project was designed in 2022.
Authorities expect to allocate nearly 70 hectares to build a total of 1,300 units of affordable houses, villas, and private houses. The city also plans to build a 29-hectare shopping and commercial center and provide public services.
Construction costs are estimated at VND21.6 trillion (US$914 million), while land clearing and compensation costs are projected at VND1.6 trillion ($68 million).
Vinhomes will contribute about VND3.5 trillion ($148 million) to the project and seek other financings worth VND19.7 trillion ($833 million).
About 48,000 people are expected to live in the new urban area.
Tran Van Phuong, Director of the Haiphong Department of Natural Resources and Environment, said on July 14 that the city would first complete land clearance and compensation and then discuss land prices with Vinhomes.
Other News
- Vietnam, Brazil elevate ties to Strategic Partnership
- Hanoi targets 10,000 digital enterprises by 2025 despite significant challenges
- EU, ASEAN discuss more investment in green transition
- How FPT Software applies lessons from the global technology legend
- Vietnam businesses capable of providing services for global audiences
- FPT featured in Discovery Channel Documentary Spotlighting Vietnam’s Tech Revolution
- Vietnam Airlines to partner with Hong Kong International Airport
- Vietnamese, Indian firms team up to bring stem cell technology to Vietnam
- Marriott International to open upscale resort in Vietnam
- Techcombank wins awards for excellence from The Asian Banker
Trending
-
Vietnam's updated NAP: Progress in climate action
-
Vietnam news in brief - November 20
-
Prime Minister meets world leaders at G20
-
Hang Ma Street gears up for festive season
-
A Hanoi artisan turns straw into appealing tourism product
-
“Look! It’s Amadeus Vu Tan Dan” workshop - an artistic journey for kids
-
Vietnam news in brief - November 15
-
Experiencing ingenious spaces at the Hanoi Creative Design Festival 2024
-
Hanoi Festival of Creative Design 2024: celebrating the capital's cultural innovation
-
Liên kết hữu ích