OSC Vietnam and Low Keng Huat (Saigon), PTE, LTD agreed to form a Joint Venture known as “OSC-DUXTON” to invest, build, manage and operate an international five star hotel, and office building and an apartment building on an area of 24,825 m2. The Project is located at the Front Beach bordering by the Big Mountain (Nui Lon) to the northwest , Truong Vinh Ky street to the northeast, Quang Trung street to the seaside and Hoang Dieu street to the southeast.
The JV Company’s investment capital is 48 million USD, of which the charter capital is 12 million USD. OSC Vietnam contributes 3 million USD, equivalent to 25% of the charter capital in form of value of the assets associated with the Site, and the commercial value of the Site. Low Keng Huat (Saigon) PTE. LTD contributes 9 million USD, equivalent to 75% of the charter capital.
The Project is expected to be completed within 60 months as from the date of issuance of the investment certificate. The schedule of implementation of the Project comprises of 2 phases as follow:
* 1st phase: construction of the office building for lease
* 2nd phase: construction of the hotel and the apartment building
Parts of the project upon being completed, will be put into immediate operation.
Source : OSC VN
