Vientiane shoppers to have new options next year
Vientiane shoppers to have new options next year
Vientiane shoppers will have more shopping options when a new four-storey shopping complex opens in the city centre next year.
The developer, North Nongchan Complex Development Co., Ltd., said last week the shopping complex and a nine-storey rental office block, located in Nongchan marsh, Xaysettha district, would open at the end of 2014.
The two landmark facilities are being developed under the first phase of the joint-venture Vientiane Centre Project. The project comprises three phases with an estimated total cost of US$120 million, with about US$70 million being spent on the first phase.
At least 30 percent of the first phase is complete, the company's Deputy Managing Director Liu Hu said when reporting on progress to Vientiane authorities. A group of officials led by Deputy Director of the Vientiane Planning and Investment Department, Mr Bounleuan Duanngeun, visited the construction site.
Recognising that many people go to Thailand to do their shopping, the developers' marketing strategy for the shopping complex is to offer Thai goods, so people no longer feel the need to cross the border, the company told local media recently.
The company signed an agreement to sell units in the shopping centre to Thai businesses so they could sell their wares there, according to the Managing Director of North Nongchan Complex Development Co., Ltd., Mr Xu Yuguang.
During last week's visit to the project site, Mr Liu told Vientiane authoriti es that engineers were using top quality construction methods as the investors aim to build a complex that is an architectural model in Laos.
The developers say the second phase will involve the construction of hotels, conference facilities and an exhibition centre, and is expected to be finished in 2015, while the third phase will involve the construction of residential apartments over 2016 and 2017.
The project is a shareholding between the Yunnan Construction Engineering Group Co., Ltd. and the Krittaphong Group Co., Ltd. The concession period runs for 50 years with the option to extend for a further 20 years.
The development of Nongchan marsh as the Vientiane Centre is one of the priority projects stipulated in the capital's development plans.
vientiane times
