Dubai group invests $30 bln in Hanoi

Global Sphere, a Dubai-based company, just announced a $30 billion investment in real estate development in Hanoi.

The company plans to build about 70 residential towers in the area, which dubbed as “Hanoi Wall Street”. The mega project covering an area of 35 square kilometers will have all urban services.

The project’s first phase, requiring $10 billion, is scheduled to be completed by 2020, said Global Sphere Chairman Dr Abdullah Al Sayegh.

This is the ever largest project carried out by a UAE company in Viet Nam, he added.

The project can accommodate between 300,000 to 400,000 residents after its completion by 2030.

Source VGP