VinaCapital Invest in Times Square Hanoi Project

On Dec 18, the ground breaking ceremony for the Times Square Hanoi urban centre was held in My Dinh, Hanoi.

 

A VinaCapital-invested joint venture company received an investment license on July 29 2008 to develop a 4 ha square site in the new urban township of My Dinh into a mixed-use office, hotel and retail complex. The Times Square Hanoi is immediately adjacent to a popular Big C shopping centre and a short distance from the National Convention Centre and Nation Sports Stadium, all located in My Dinh.

 

The Times Square Hanoi project, due for completion in 2011, will see construction of a Grade A office tower and luxury five star hotel with high-end retail units. The office tower has a proposed GFA of 20,000 square m2 and the 300-room hotel will feature ballrooms and conference facilities.

 

VinaCapital holds a 65 percent equity stake in the joint venture, with the remaining stake held by a local partner. Investment capital for the project will total US$ 50 million.