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Joint venture to build HCMC luxury apartments at $100 million   2008-05-29 - VNA

Inveskia, a joint venture between the Republic of Korea’s Vina Development Inc and two local companies, will build luxury apartments in Ho Chi Minh City at a cost of US$100 million.

Expected to be ready by October 2010, the 2.3 ha complex will have four blocks of up to 28 stories with 700 apartments, a swimming pool, tennis court, business centre, restaurant, library and a medical centre.

Inveskia General Director Kim Sang Do said the joint venture will donate 1 percent of sales to causes like education and helping children.

The Korean partner holds 75 percent of the JV’s capital, with Kien A Joint Stock Company and Ho Chi Minh City Investment and Services Joint Stock Company sharing the rest.

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