Hanoi Largest Hotel Project has New Owner

Hanoi People’s Committee has officially selected the Corporation Kinh Bac Urban Development (KBC) as the investor for project Lotus Hotel.

With this decision, KBC has officially passed dozens of other investors to become the investors of the largest hotel project in Hanoi.

Lotus Hotel has a total project investment of up to USD 500 million, licensed by the Ministry of Construction license for Riviera Group (Japan). However, the past April, the corporation has a written request to withdraw from the project because of financial difficulties.

Lotus Hotel is licensed to build standard 5 star hotel, with a total construction area is 80,000 m2, including 550 rooms. Recently, the Ministry of Construction for construction of high-Gardner area on 35 floors, 800 rooms with construction density of 35-40%.

As leaders of KBC, forthcoming, the company will promote faster with authorities, relevant agencies of Hanoi to quickly implement the construction project. Specific issues related to the project, KBC will ask for opinions and decisions of the shareholders in writing.

As planned, the project will be started in early 2010 and completed phase 1 after 24 months.

KBC is a member of Saigon Invest Group (SGI), was established in December 4/2003 with functional initial investment, construction and business infrastructure, urban areas, commercial, industrial and versatile service.

Besides the projects on the property, the KBC is extending venture investment in areas such as finance, banking, communications, energy …