UAE look to Vietnam real estate market

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UAE look to Vietnam real estate market

31 Jan 2008

Dubai-based property developers are increasing looking to Vietnam, to tap into its burgeoning real estate market.

The latest firm looking to capitalise on the emerging market in Vietnam is ETA Star, the real estate arm of the ETA Star-Ascon Group.

The company which will focus on development in inner cities, has announced plans to launch a new mixed-use project in Ho Chi Minh City.

"The newest market for us will be Vietnam where we are on the verge of finalising some land transactions," ETA Star executive director, Abid A Junaid told Emirates Business.

"Everyone knows Vietnam is a hot destination in the Far East and that's the reason why developers are making a beeline," he added.

Limitless, the development arm of Dubai World, unveiled the $220-million Halong Star near Hanoi, Vietnam, late last year.

The mixed-use project is spread across 125 hectares and will include a 250-room five-star hotel, a 100-room luxury boutique hotel, 36 high-end serviced villas and a commercial hospitality school.

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