Construction began on the Sao Mai Tay Cai Dau New Urban Area project worth 1.2 trillion dong ($52 million) in Vietnam’s An Giang province on Sunday.
Covering 62ha, the area is located in Chau Phu district’s Cai Dau town, about 20km from the border with Takeo province’s Kiri Vong district in Cambodia.
Sao Mai Group Corp (Sao Mai Group) is the project’s developer.
Provincial People’s Committee chairman Tran Thanh Nha said the new urban area will create a driving force for the development of the province’s western region.
Sao Mai Group director-general Le Thanh Thuan said construction is scheduled to be completed in 2025.
The project will include a trading and service area, market, parks, villas, townhouses, commercial townhouses, office buildings and areas for cultural, physical training and sport activities.
It is expected to boost the district’s economic restructuring towards modernisation.
In the near future, the company plans to develop three more large-scale projects on a total area of 200ha in the province, with an estimated capital of more than six trillion dong.
VIET NAM NEWS/ASIA NEWS NETWORK