Singapore Expo to Sell Myanmar Condos

• 31 December 2015
• Property Focus
• 1406 Views

Vietnam’s property developer FLC Group has taken over a troubled project in Hanoi by buying a 22.8 percent stake in the owner and is now preparing to start construction on the site.

The 265 Cau Giay project was approved in 2007 but saw development stall after being plagued by shifting shareholders and a property market which has lost pace since 2010.

Set in a prime location in central Hanoi and initially designed as a 50-storey tower for apartments and a 38-storey tower for offices, the new development impetus is expected to boost the local real estate market.

FLC Group is emerging as a major player in the market with three developments in Hanoi and a golf resort on the coast in Thanh Hoa.