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Hong Kong firm eyes Da Nang hotel

Released at: 18:24, 07/04/2016

Hong Kong firm eyes Da Nang hotel

Success Dragon International Holdings reveals plans to fully buy company that owns 45% of One Opera Danang.

Success Dragon International Holdings, a Hong Kong casino service provider, has announced plans to expand in Vietnam.

In a document sent to Hong Kong’s stock exchange, where it is listed, Success Dragon noted its intention to outlay $14.13 million on buying all shares in Vabis Building Consultants and Engineering.

Vabis holds a 45 per cent share of a company in Vietnam that owns the One Opera Danang hotel and associated land plots. By negotiating, the Hong Kong company can own the hotel and expand its business in Da Nang.

One Opera Danang is a five-star hotel on 1,916 sq m with a gross floor area of 28,493 sq m on 24 floors, including a commercial area.

It also owns a 3,286 sq m plot of land for extensions and is in process of obtaining a license for a casino business.

Success Dragon noted, however, that the deal is still only under consideration.

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