Dubai-based real estate developer Limitless has announced that it is poised to award an infrastructure contract for its $550 million Halong Star project in Vietnam.
Earthworks at the company's Halong Star project in Halong Bay began earlier this year and construction of the main access road is under way.
Limitless said in a statement that the infrastructure contract is due to be awarded "in the next few days".
Mohammed Rashed Bin Dhabeah, CEO of Limitless, said: “Vietnam offers huge opportunities for investment, especially for those involved in real estate and hospitality, who can benefit from the country’s rising tourism. Last year, six million people visited Vietnam – and the figure is growing. For this reason, Vietnam remains a key market for Limitless.”
Located at the UNESCO World Heritage Site of Halong Bay on Vietnam’s north-east coat, Halong Star is a mixed-use development that will meet the area’s demand for hotels and residential accommodation, and create hundreds of new jobs, he said.
Halong Star’s initial phase will feature around 2,000 villas, townhouses and apartments, as well as extensive retail and leisure facilities and two hotels.
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