SP Setia bags Vietnam’s property project

Malaysia property developer, SP Setia Bhd (8664) has in principle bagged a property project from Vietnam’s Investment and Industrial Development Corp to develop a 10.8ha land in Binh Duong province,Vietnam, for a 50-year term.

Setia SKY Residences
Jalan Tun Razak, City Centre, Kuala Lumpur

In its filing to Bursa Malaysia yesterday, SP Setia said its subsidiary Setia Lai Thieu Ltd has received an investment certificate from the People’s Committee of the Binh Doung Province for the establishment of Setia Lai Thieu One Member Co Ltd with a charter capital of US$6.5 million (US$1 = RM3.32).

Setia Lai Thieu One Member Co will undertake the development of Eco-Xuan Lai Thieu, which features shop houses, terrace houses, semi-detached houses, commercial centres, club house and apartments.

Tags: SP Setia, Vietnam real estate, Vietnam real estate 2010, vietnam real estate market, Vietnam's property projects

Posted by VBN on Mar 13 2010. Filed under HEADLINES, Real Estate. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry