Business

Thursday November 5, 2009

BLand to start project in 2012


PETALING JAYA: Berjaya Land Bhd (BLand) will start development work on its US$6.3bil (RM21.8bil) integrated propery development project in Dong Nai province in Vietnam in 2012, the company told Bursa Malaysia yesterday.

The Nhon Trach New City (NTNC) township project was scheduled for completion in stages from 2015 to 2030. “The estimated investment cost is US$400mil (RM1.4bil),” BLand said.

The NTNC would be developed and managed by Berjaya NTNC Ltd, a newly incorporated company of BLand’s wholly owned subsidiary Berjaya Leisure (Cayman) Ltd (BL Cayman).

BL Cayman had received the investment certificate from the Vietnamese licensing authority for the NTNC project. The NTNC project is located on 600ha in the heart of Nhon Trach City and is about 30km from Ho Chi Minh City.

The planned integrated township would comprise of administration, healthcare, educational, cultural and art centres, mixed residential and commercial projects.

The gross development value was estimated at US$6.3bil, while the cost was projected at US$4.9bil (RM17bil).

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