Mitsubishi Invests in Huge Hanoi Suburb

• Proeksa Meas
• 1 October 2016
• Local News
• 1360 Views

Mitsubishi is partnering with Vietnamese real estate group Bitexco to develop part of the new USD1.9bn Manor Centre Park suburb in Hanoi.

Mitsubishi will have a 45 percent holding in the joint venture to develop 8,700 units on 190 hectares located 8km outside the capital.

Manor Park Centre will provide housing, retail and office buildings and a park and sports centre for Vietnam’s rapidly growing middle class whose average income has quadrupled over the last 15 years.

7,700 apartments with an area of 70-80 sq.m will be housed in 17 condominiums and priced at USD150, 000. A further 1,000 units sized at 300 sq.m will reportedly sell for up to USD700,000.