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| Construction of Go Sao project gets funds |
| 02/Jul/2009 Intellasia | Dau Tu Chung Khoan Page 6 |
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| 2 Jul, 2009 - 11:04:53 AM |
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Ba Ria-Vung Tau House Development Joint Stock Co (Hodeco) has signed cooperation contract with the two Vung Tau branches of Vietcombank and Vietinbank in which the two banks would co-sponsor 500 billion dong in Hodeco's construction project of Go Sao Residential Quarter in Dist 12, HCM City.
Hodeco and general Department of Police Force (Ministry of Public Security) are two main investors of the project with the total investment of 1.5 trillion dong.
The project will include 12 blocks of apartment with 15-18 storeys for each building. There are about 2,000 apartments to be built.
Hodeco will be responsible for investment and construction work of the project, in which one part of the apartment buildings is planned to be sold for the police department's staff with offered price equal to construction costs, the rest will be sold by Hodeco on the prevailing market price.
The construction is expected to start within this year and to last for 4-5 years.
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