London-listed Indochina Capital will join forces with a local partner to invest in upgrading a wharf and building a commercial-tourism complex in Da Nang City.
Following the provincial authorities’ approval, Indochina Land Holdings (ILH), an affiliate of Indochina Capital, is to set up a joint venture for the investment project.
Further information on the project was not given.
As proposed, the newly-upgraded yacht wharf will provide international-standard seawater sport and rescue activities in case of emergency.
And the commercial-tourism complex will comprise of villas and high-end apartments along side Son Tra – Dien Ngoc beach for rent or sale, along with shopping malls and other facilities.
Indochina Capital, listed with the ticker symbol ICV on the London Stock Exchange earlier this month, have investments in the country and region valued at over 1 billion US$.
In related news, the first modern commercial area in Da Nang city, the Riverside Mall invested by ILH is set to open in November.
The 6,600 sq.m mall is home to garment, cosmetics, footwear, home appliances and food retailers.
The mall is located on the first three floors of the multi-purpose project Indochina Riverside Towers.
An international real estate consultancy service firm, CBRE, the sole marketing agent for the project, said that 50% of the mall had already been booked by clients and the rate would go up to at least 80% by opening time.
Source: Thanh Nien
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