Binh Thien An seeks sunshine in Hoi An

December 19, 2010 | 20:24

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Binh Thien An is looking to make its name in tourism hot spot Hoi An. It expects to begin work on the 350 hectare cultural, tourist and urban area next year in Hoi An city of central Quang Nam province.

In the first phase, around $100 million will be poured into the construction of a hotel and resort complex, which will provide around 1,000 rooms.

The company is also constructing a high-end residential project, the Diamond Island Sky Resort, in Ho Chi Minh City’s District 2.

A company source said around 70 per cent of the first phase, next to the Thu Thiem new urban area, was sold and 250 apartments in different types would be handed over to clients in next year’s fourth quarter. Diamond Island’s design concept utilises the advantages of the environment surrounded by the Saigon and Giong Ong To rivers.

Binh Thien An is a real estate business company established by Kazakhstan-based Kusto Group, an international investment corporation focused in the industries of oil, mining and real estate.

With an investment of $1.5 billion in Vietnam, Binh Thien An is set to become a major player in one of the fastest growing markets in Asia.

The Kusto Group has managed a number of projects seeking oil, molybdenum and gold in Kazakhstan in partnership with PetroVietnam.

The Kusto Group also has real estate investments in Vietnam, Russia, Ukraine and Kazakhstan.

Vir

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