Singapore based Company “Low Keng Huat” together with National Oil Services Company of Vietnam Ltd (OSC Vietnam) are going to build huge luxury complex in Vung Tau
Project was approved by local authorities and it will include 18 floor five star hotel “DUXTON VUNG TAU”, 25 floor residential and office buildings those will be located on the Front Beach.
Project developer Joint Venture “OSC-DUXTON” Ltd is going to invest more then 120 millions USD to make it one of the most luxurious hotel and residential complexes in Vung Tau. Construction will be started in November 2012 and will be divided into several phases.
“Low Keng Huat” already has one 4 star hotel in Hochiminh City – “DUXTON SAIGON”.
VCC
Sources: vir, vccinews
Looks too fantastic to be real
Vung Tau had the same projects before those are still on the paper… like Vungtau Wonderland (Wonderful Theme Park), Saigon Atlantis or Vung Tau Aqua…
http://i164.photobucket.com/albums/u30/yeutoidi/B51.jpg
http://1.bp.blogspot.com/_jOnclNV2Jxc/SJbW3y-9DLI/AAAAAAAAA1E/MvCGK1SSI6g/s400/A1.jpg
“…“OSC-DUXTON” Ltd is going to invest more then 120 millions USD to make it one of the most luxurious hotel and residential complexes in Vung Tau…”
Just 120 millions? If it will be what we see on the picture , its should be empty inside. MGM Grand (Ho Cham Strip) for example investing more then 4,1 blns USD.
It will never happen, if it does I will really be surprised. I agree with the comments above. Vietnam has lost touch with reality when it comes to real estate. First they really don’t know how to build quality, no matter where the company is based. Then they are asking an insane amount for something that is of low quality for something built in a slum area. They use cheap material and cheaper labor. No disrespect, because I really love it here. However, this is a third world country with a third world mentality.