An aerial view of Daewoo E&C’s villas in Star Lake City New City of Ha Noi, Viet Nam. — Photo businesskorea.co.kr According to website businesskorea.co.kr, the project is meaningful in that Daewoo E&C has become the nation’s first private firm which first proposed the project to the Vietnamese government, unlike previous government-led development projects, and it is the first export of Korean-style developer projects. The Starlake City project involves building a 1.86 million-square-meter new residential city in the West Lake area 5 kilometers northwest from Ha Noi City Hall. Viet Nam’s THT Development Co., a wholly owned subsidiary of Daewoo E&C, has led the mega new city development project. The total cost of the project is about US$2.2 billion and the first-stage construction alone costs $1.2 billion. Daewoo E&C will begin the first parceling sale of 182 four-story houses in the H7-10 block located on the southwest side of the new city. The sales prices range from US$720,000 to US$2.35 million. Buyers should make a 20 per cent down payment and will be able to move into their new houses in July 2017. Daewoo E&C plans to start the second parceling sale of 182 houses within this year, and the third… Read full this story
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