ID :
210491
Fri, 09/30/2011 - 15:57
Auther :
Shortlink :
https://oananews.org//node/210491
The shortlink copeid
MALAYSIA, VIET FIRMS TO JOINTLY DEVELOP US$125 MLN HOUSING PROJECT
KUALA LUMPUR, Sept 30 (Bernama) -- UOA Development Bhd and Vietnam's Hoa Binh Construction and Real Estate Corp will jointly develop Sri Petaling residential development comprising 670 units of condominiums with an estimated gross development value (GDV) of RM400 million (US$125.45 million), UOA said.
In a statement on Friday, UOA said work on the project is scheduled to commence in the fourth quarter of 2011 with completion slated towards end-2013.
Both companies signed a memorandum of understanding (MOU) on Thursday.
As part of the MOU, a commitment is established by UOA and Hoa Binh Corp to explore a synergy of construction capabilities for projects in Malaysia, Vietnam and the region.
UOA said it is confident the strategic construction collaboration with Hoa Binh would complement its existing construction arm in its developments.
In a statement on Friday, UOA said work on the project is scheduled to commence in the fourth quarter of 2011 with completion slated towards end-2013.
Both companies signed a memorandum of understanding (MOU) on Thursday.
As part of the MOU, a commitment is established by UOA and Hoa Binh Corp to explore a synergy of construction capabilities for projects in Malaysia, Vietnam and the region.
UOA said it is confident the strategic construction collaboration with Hoa Binh would complement its existing construction arm in its developments.
