Van Thinh Phat Group Corporation has partnered with two Malaysian companies to develop a US$ 6 billion ecological urban system, called Saigon Peninsula Project, in HCM City’s District 7.
The partners are Pavilion Group and Genting Group, both leading corporation’s in Malaysia.
The Saigon Peninsula Group Corporation was licensed by the HCMC People’s Committee to develop the project (pictured) on 118 ha of land in Phu Thuan Ward in District 7. It will feature a multi-functional park, an international cruise terminal port, office towers, resort villas, apartment blocks and a hotel.
The Corporation will make the US$ 6 billion project a cluster of unique, world-class architectural works and a green lung, blending an ideal ecological space at the confluence of the Sai Gon and Nha Be rivers.
Pavilion Group, under the leadership of executive chairman Desmond Lim who is the founder and also the owner of the shopping mall Pavilion Kuala Lumpur in Malaysia, is a visionary in Malaysia’s real estate market with achievements in multi-sector development, project management and long-term investment.
Pavilion Group will lead in the master planning and landmark development consisting of a high-end shopping mall with a five-star hotel, high-quality apartments, resort villas and Grade ‘A’ office towers in the Saigon Peninsula Project.
This co-operation is reported to boost the country’s tourism industry, as well as creating more than 30,000 jobs and attracting more foreign investors to Vietnam, especially the southern economic hub of HCMC.