Richland Hill Viet Nam

$150m property project kicks off in HCM City (01-09-2007) HCM CITY — Hao Quang Trading and Services Co. and Hiep Phu Thinh Joint-Stock Company yesterday broke ground for a $150 million Richland Hill Complex project in Hiep Phu Ward in HCM City's District 9. This is the first project in the country to be designed as a high-rise with an overhead garden, a popular architectural style in cities like New York and Chicago. Designed by Ove Arup Hong Kong in partnership with the Construction Ministry's Nagecco, the complex will includ the 18-storey Athena Building containing commercial and office space; the Zeus Building, with a five-storey trade and entertainment centre and four 28-storey apartment towers; and the Apollo and Poseidon Buildings, with three 22-storey apartment towers each. Construction is scheduled to be completed by 2011, and sale of apartments will begin in mid-2008. Development consultancy was provided by Thai Thinh Capital, with financing from East Asia Bank. CEO of Thai Thinh Capital, Tran Thanh Vinh, said: "We chose to locate the Richland Hill in District 9 since this is a gateway to HCM City, and a focal area for economic development in the near future. Construction of Long Thanh International Airport will help boost the growth of District 9." Speaking about the local property market, Vinh said rumours about the frozen property market in Viet Nam were "completely untrue". "In many years to come, demand will exceed supply and real estate will remain one of the hottest markets," he said. — VNS Source: http://vietnamnews.vnagency.com.vn/showarticle.php?num=04BUS010907 VNDIGITAL - MEDIA FROM VIETNAM.