Massive entertainment precinct planned for Nongpaen area
Massive entertainment precinct planned for Nongpaen area
Lao Asia Trading International Company (LATIC) will spend more than US$50 million (around 400 billion kip) to transform the Nongpaen area of Hadxaifong district close to Xiengkhuan Buddha Park.
The site on the outskirts of Vientiane is slated to become one of the largest international level tourism sites in South East Asia.
According to the Director of Lao Asia Trading International Company, Mr Thanakit Souvannavong, the project forms part of efforts to prepare Laos to join the Asean Economic Community in 2015, and accommodate the rising number of tourists in the capital.
Mr Thanakit said recently during a religious ceremony to signify the start of construction that the company is the first 100 percent Lao owned company to develop such a shopping complex and amusement park precinct.
He said there are many shopping centre developments and entertainment venues in the capital but most of them are backed by foreign investors or joint venture deals between Lao and foreign companies.
The construction of the Nongpaen tourism site will commence this year and is expected to open for service in 2020. The project will comprise a five-star hotel, a golf course, an amusement park, an artificial lake, and an international shopping mall.
The project will also incorporate models of the housing styles common in all the countries of Asean, an entertainment precinct and other facilities.
Under the concession agreement which lasts for 70 years, the project will cover a total area of 150 hectares.
Initially the company will develop 73 hectares starting from next month including clearing the marsh for cleanliness, constructing a water treatment facility and clearing and leveling the land for construction.
Lao Asia Trading International Company will initially focus on building hotels, the amusement park, artificial lake, entertainment venues and mall, before building the golf course.
Mr Thanakit said they plan to promote the project among young students and visitors by arranging study tours where they can obtain information and learn about tradition, culture food and the housing styles in the different countries of Asean.
“All kinds of entertainment as well as cultural education will be available in the one place though our project,” Mr Thanakit confirmed.
The project was signed off on at Don Chan Palace Hotel by the Director of the Planning and Investment Department Mr Phoukhong Bannavong and the Director of Lao Asia Trading International Company Mr Thanakit Souvannavong.
vientiane times
