Mirax Group applies for deadline extension for $200m resort project in Cam Ranh

The Russia-based Mirax Group has submitted to Khanh Hoa province People’s Committee about extending the deadline to carry out the Mirax Cam Ranh Resort project. The local authority has already in principle approved the proposal.

According to the investment licence that had been issued since 2008, the implementation of the afore-mentioned project was supposed to last for three years. However, due to impact of the global financial crisis, the project’s implementation speed has been slowdown.

The project has total investment capital of $200 million. Mirax Group plans to build a 5-star hotel to be sited in an area of 16 hectares in Bai Dai Zone, Cam Ranh Town with 300 high-class hotel rooms and 100 villas.

The group was expected to kick off the construction projects in Q1 of 2011. – Dau tu

Tags: Mirax Group

Posted by VBN on Nov 24 2010. Filed under 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