| by News Desk |
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As domestic real estate markets have slowed, the big Asian real estate developers are looking abroad, within Asia, for new development opportunities.
Malaysian-based developer Sova Holdings Sdn. Bhd. recently announced their plans to enter the Vietnam market with their first development in Nhon Trach District in Dong Nai province in the South.
The developer has joined with local land owner Thai Duong Company (Sunco) and will break ground on the Nhon Trach City Center (NTCC) project in April this year.
The eight-hectare development is valued at approximately US$47 million, and will include modern offices, accommodation and entertainment services, targetting both local and expatriate residents.
According to the developer, NTCC will consist of four 13-storey apartment buildings, with villas, town houses a sports center and commercial services including two 15-storey office buildings which will be available for lease, as well as a four-star hotel. The project is expected to be operational 2012.
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