London-listed fund manager VinaCapital received Thursday approval for building a US$325-million commercial-residential complex in Vietnam’s central Danang city. To be built in Son Tra district, the 9-ha VinaCapital Square complex will have two trade centers, two deluxe hotels with 600 rooms, a 25,000-sq.m exhibition and conference center, and a 42-story office block.
The largest-ever property project in the city will also have around 1,300 luxury apartments and a villa area.
But its date of commencement is not known.
With $500 million in its kitty, VinaCapital, which manages the Vietnam Opportunity Fund, is expected to invest in offices, trade centers, residential areas, industrial parks, and entertainment areas in key Vietnamese areas like HCMC, Hanoi, Nha Trang, Hoi An, and Danang.
VinaCapital also operates two other funds – the $205 million real estate fund VinaLand, and the newly set up $50 million DFJ VinaCapital L.P. which invests in information-communication technology firms.
Source: Thanh Nien
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