Dubai giant docks at Halong

December 18, 2007 | 18:30
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UAE Limitless last week broke ground on its $220 million Halong Star complex in Halong Bay. The project, Limitless’ first in South East Asia, will cover 125 hectares and is a joint venture between Limitless, Phuong Hung Joint Stock Company and International Property Investment Partners LLC.

The world famous developer wants to leave its mark on stunning Halong Bay
The project will include the area’s first five-star hotel, conference facilities, high-end residential units and recreational, cultural and education amenities, all with extensive views of Halong Bay – a Unesco world heritage site.

Limitless CEO Saeed Ahmed Saeed said the project marked the beginning of a development that would fulfil Halong Bay’s massive demand for high-end tourist and residential facilities.
“I am honoured that Limitless is to play such a major role in enhancing this beautiful part of the world,” he said.

“Limitless was established with the aim of capitalising on Dubai’s real estate experience by developing distinctive projects around the world. Southeast Asia is a strong market for us and Halong Star is one of many Limitless projects in the pipeline for the region,” he added.

“Without a doubt Southeast Asia is one of the most exiting and dynamic regions for Limitless. Its fast growing economy presents us with endless opportunities to demonstrate our core skills of planning large-scale, balanced projects and waterfront development,” he said. The complex includes a five-star 250-room hotel, a 100-room boutique hotel, 36 serviced villas, 190-top-end villas, 85 luxury townhouses and 114 apartments. Halong Star is expected to be complete in five years.

Philip Atkinson, regional director of Limitless Southeast Asia, told Vietnam Investment Review that with its long coast line Vietnam had great potential for developing tourism and port projects.
“We [Limitless] are also looking for opportunities to take on other projects in Vietnam,” Atkinson said. He added that the company would announce other projects in 2008.

Limitless LLC, a Dubai World company, is an integrated global real estate developer.
The company currently has five global projects worth more than $100 billion. Among them are a $12 billion mixed-use development project in Saudi Arabia, an $11 billion complex in the Arabian Canal, a $12 billion urban project in India and a $13 billion mixed-use development project in Jebel Ali.

vir.com.vn

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