(MENAFN) Nakheel, the Dubai property developer, announced that it will propose a plan to restart a delayed project in Vietnam's northern province of Quang Ninh, which has an estimated value of USD550 million in January, Arabian Business reported.
The developer said that it has signed a memorandum with the Vietnamese government to continue the project, which was postponed due to financial issues after its groundbreaking in 2007.
The 125-hectare integrated resort project, which is designed by Honolulu-based FSC Architects, is expected to comprise of a 250-room five-star hotel, 226 villas, 85 upscale residences, 114 apartments and a retail center, with Sovico Holdings, a private Vietnamese-run firm, reportedly signed in to execute the project.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.