Vientiane New World Plaza set to reward investors
Vientiane New World Plaza set to reward investors
Vientiane New World (VNW) Plaza is expected to become a tourist destination and a significant business centre at the heart of the Lao capital.
The project developer, CAMCE Investment (Lao) Co., Ltd., on Saturday launched the official grand sale of stores in the plaza with a colourful dragon show.
CAMCE General Manager Mr Luke Lee said the project was situated in a good location, in an area of Vientiane that was attractive to investors.
To the north is Chao Anouvong Park, while the Mekong River lies immediately to the west. The plaza is also situated next to apartments and business zones to the south.
Mr Lee announced a special sale promotion offering a 10 percent discount for investors who bought stores at the opening ceremony. CAMCE allocated 19 shops to sell at the event, of which more than 10 were sold.
VNW consists of a shopping mall and a walking street of 100 shop lots designed in the Lao architectural style. The complex is without doubt set to become a shopping paradise, a food paradise and an entertainment paradise.
The shopping mall consists of two basements and three higher floors. The mall will offer international brands of products and services at competitive prices, and will have a movie theatre and large parking area.
The walking street at Vientiane New World contains scenic spots, Lao style shops, Lao and Southeast Asian food, cafes, bars, KTV, entertainment and other business formats.
Mr Lee said it is expected Vientiane New World Plaza will draw the interest of business operators because it has a good location and comes with a property right of 90 years as agreed by the government, as well as a bank to provide loans.
This new facility will be a window to open Laos to the world, and will certainly create a strong trade climate in Vientiane as well as the country as a whole.
Construction of VNW Plaza began on February 27, 2014, and is expected to finish in 2015.
Vientiane Vice Mayor Mr Anouphab Tounalom said Vientiane New World Plaza is an important undertaking by China’s CAMC Engineering Co., Ltd., which is a big global company that is now investing in Laos. The project is in a prime location and benefits from a panoramic view of the Mekong River.
It is expected that once construction is complete, it will attract a lot of people who will travel to the plaza to make use of the services on offer.
Mr Anouphab said that the Lao government had seen the positive benefits of the project and that the venture would be a rewarding investment.
CAMCE had earlier been granted a concession in the Donchan area to build 50 ASEM Villas, which was the first phase of the Vientiane New World project. Total investment in the Vientiane New World Project is about 4,800 billion kip (US$600 million).
The ASEM Villas were built to accommodate high-level delegates attending the 9th ASEM Summit in Vientiane.
This year, CAMCE is continuing with the development of Vientiane New World Plaza, which is a very important project for the socio-economic development of Vientiane, Mr Anouphab said.
CAMCE Investment (Lao) Co., Ltd. is a subsidiary of a strong Chinese developer known as China CAMC Engineering Co., Ltd., which is one of the Top 500 Global Enterprises.
Saturday’s official grand sale ceremony was attended by representatives of the Chinese Embassy to Laos and business operators.
vientiane times
