Dubai investor confirms continuation of investment.
Dubai’s Nakheel Group has committed to continuing its investment in the Urban Area - Travel Ha Long Star project in Quang Ninh in January 2015.
Group leaders will submit an investment plan to the Quang Ninh People’s Committee for the project, worth $550 million, during a visit to the UAE by Deputy Prime Minister Nguyen Xuan Phuc.
The Group signed an MoU with the province to invest in the Ha Long Star project in 2013 and formed a joint venture with local partner Sovico Holdings to develop the project. The project originally commenced in 2007 but was suspended due to the financial crisis before being completed later than scheduled.
The Nakheel Group is the leading investor in Dubai and owns the world famous Palm Island Jumerah.