(NADS) - The Industrial and Commercial Bank Trade Union Investment Company (owned by Phu My Hung Development Company Limited) has just been approved by the People's Committee of Bac Ninh province for the Hong Hac - Xuan Lam Ecological Urban Area project with a total investment capital of up to 27,000 billion VND, equivalent to about 1.06 billion USD.
This project, covering nearly 200 hectares in Thuan Thanh town, was approved in December 2010. To date, compensation and site clearance work has been completed, with nearly 198 hectares handed over. The infrastructure is expected to be completed in November this year.
According to the plan, the urban area will serve about 28,000 residents and will feature a 25-storey mixed-use building and commercial center, located in the north and center of the project.
According to the introduction on the website, Phu My Hung Development Company Limited was established on May 19, 1993, a joint venture between Tan Thuan Industrial Development Company Limited (IPC - Vietnam, formerly known as Tan Thuan Industrial Development Company) and Phu My Hung Asia Holdings Company (formerly known as CT&D - Taiwan).
Phu My Hung is one of the largest and earliest real estate enterprises in Vietnam. This enterprise built Nguyen Van Linh Boulevard, a vital traffic route for transporting goods from Ho Chi Minh City to the Mekong Delta provinces and vice versa. Along this avenue, Phu My Hung has also successfully developed a new urban area of 2,600 hectares, one of the most luxurious and modern urban areas in Vietnam.
Regarding Bac Ninh province, this locality is also receiving attention from a large enterprise, Aeon Mall (Japan). Aeon Mall representative said they are looking for a location to build a shopping mall in Bac Ninh, with an investment plan of up to 190 million USD.
Bac Ninh, with its strategic location in the economic triangle of Hanoi - Hai Phong - Quang Ninh, has been attracting great attention from foreign investors, both in industry and real estate.
The province also aims to become a centrally-governed city by 2030, a dynamic economic and cultural center of the North, contributing to the development of the Red River Delta.
Source: https://nhiepanhdoisong.vn/phu-my-hung-dau-tu-khu-do-thi-27-000-ty-dong-tai-bac-ninh-15173.html
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