Urban area worth nearly 3 billion USD to be built in Dong Nai

Five investors will jointly carry out an urban area project worth over 72.2 trillion VND (2.9 billion USD) in Hiep Hoa Island of Bien Hoa city, the southern province of Dong Nai. The Dong Nai People’s Committee on September 17 issued a decision approving the Lan Anh-Phu Quoc Co. Ltd, the Sun Group Corporation, the Ha Long Sun Co. Ltd, the Sun Group Property JSC, and the Phu Quoc Beautiful Beach Investment Co. Ltd as investors of this project. The Hiep Hoa urban area project, covering over 290ha, is located at a prime location at the gateway to Bien Hoa city. Of the total investment, nearly 11 trillion VND is contributed by the investors while the rest is set to be mobilised from other sources. The project will be implemented in six phases in 12 years, from the time it was approved in principle in 2023 to 2035. Under the Investment Law, it will operate for 50 years.

Source: Vietnam News Agency

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