Berjaya Land’s NTNC project in Vietnam given the go ahead

KUALA LUMPUR: Berjaya Land Bhd (BLand) on Nov 4 announced the receipt of its investment certificate from the licensing authority in Vietnam for its NTNC Project, which is to be managed by Nhon Trach New City Centre (Berjaya NTNC Ltd). Berjaya NTNC Ltd is a newly incorporated wholly owned subsidiary of Berjaya Leisure (Cayman) Ltd in Vietnam.

According to the company’s announcement to Bursa, the NTNC Project is located on a 1,482-acre tract at Nhon Trach District in Dong Nai Province, Vietnam. It will be developed in stages into an integrated township comprising administration, healthcare, educational, cultural and art centres, mixed residential and commercial projects such as apartments, apartments with commercial shops, villas and semi-detached houses.

The total estimated gross development value of the project is RM21.8 billion and the cost RM17 billion. Development works on the project is expected to commence in 2012 and is slated for completion in stages from 2015 to 2030.
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