UAE-based real estate developer, Limitless is set to award infrastructure contracts for its $544m (AED2bn) Halong Star project in Vietnam.
Earthworks at the Halong Star site began earlier this year, construction of the main access road is underway, and an infrastructure contract is due to be awarded in the next few days.
Located at the UNESCO World Heritage Site of Halong Bay on Vietnam’s north-east coat, Halong Star is a sustainable mixed-use development.
Halong Star’s initial phase will feature around 2,000 villas, townhouses and apartments, as well as retail and leisure facilities and two hotels.
Mohammed Rashed Bin Dhabeah, CEO of Limitless, said: “Vietnam offers huge opportunities for investment, especially for those involved in real estate and hospitality, who can benefit from the country’s rising tourism.
“Last year, six million people visited Vietnam – and the figure is growing. For this reason, Vietnam remains a key market for Limitless.”
Quang Ninh province, where Halong Star is located, welcomes nearly three million overseas visitors each year.