Malaysian company to build city complex in Vietnam

HO CHI MINH City: Malaysia's property developer Gamuda Land and local firm Sacomreal announced on Monday that they would jointly develop the US$215 million Celadon City complex in HCM City's Tan Phu district, Vietnam News Agency (VNA) reported.

The 82ha Celadon City will be located about 3km from the Tan Son Nhat International Airport.

Dang Hong Anh, chairman of Sacomreal, said the project would have the city's largest green park and a construction density of 20%.

The project will build around 7,000 apartments, a trade centre, office buildings, schools, clinics, a cultural house, playground and other sports facilities.

Gamuda Land, which will account for 60% of the total investment, will also be in charge of construction and quality management, while Sacomreal will act as the project's exclusive distributor. — Bernama