$25.2 million project to include five-star hotel and offices for lease, to meet existing demand and encourage other investors to the province.
The Lai Chau No. 1 Construction Company has recently received an investment certificate to develop a complex of offices for lease and the five-star Muong Thanh Thai Nguyen hotel in northern Thai Nguyen province.
With investment of VND550 billion ($25.2 million) the project sits on 3,000 sq m in Trung Vuong ward, Thai Nguyen city.
Construction is expected to kick off in the third quarter of this year and be completed in the third quarter of next year. Upon completion it will employ 300-500 people.
A highlight of Thai Nguyen city, the project targets meeting the demand for hospitality and office space for lease and to contribute to attracting more investors to the province.
Muong Thanh is one of the largest hotel chains in Vietnam, operating more than 30 three- to five-star hotels nationwide, including in Hanoi, Ho Chi Minh City, Bac Giang, Quang Tri, and Can Tho. Each features the characteristics of the local region.