Berjaya Land inks MoU for RM2.42b project in Vietnam

Posted on | March 28, 2007

By THE EDGE

Berjaya Land Bhd and Vietnam’s Ky Hoa Tourist Trading Company Ltd have signed a memorandum of understanding (MoU) to undertake a commercial project with an estimated gross development value of RM2.42 billion.

It said on March 27 that the project would be built on a 6.67ha site in Ho Chi Minh City, Vietnam.

Ky Hoa is owned by the Finance Administration Department of the Ho Chi Minh City Party Committee and owns the rights to the area.

Berjaya Land said the site, which is a busy commercial hub, would be developed into a mixed commercial development finance centre comprising of offices, shopping malls, a five-star hotel and service suites.

The company would wholly develop and manage the project with funding coming from internal funds and/or borrowings. It had three months from the execution of the MoU to complete the feasibility studies.

Berjaya Land said should the project materialise, it would represent an opportunity for it to capitalise on its expertise and participate in the growth of the Vietnamese economy, particularly in Ho Chi Minh City.

You might also like

Berjaya: Viet project work to start in 2012 By BUSINESS TIMESBERJAYA Land Bhd will start to develop its US$6.3 billion (RM21.55 billion) 600ha Nhon...

BLand may put projects on hold By THE STARKUALA LUMPUR: Property company Berjaya Land Bhd may put some of its projects on hold due to...

BLand: US$7.35b GDV for Vietnam project By BUSINESS TIMESBERJAYA Land Bhd (BLand) says its planned integrated township project on 925ha in Ho...

BLand to build RM12b Vietnam varsity town By BUSINESS TIMESPROPERTY developer Berjaya Land Bhd (BLand) plans to build a US$3.5 billion (RM12 billion)...