Major local, foreign real estate project officially delivered

A major real estate project launched in Laos, AVIC Townhouse, by joint venture developers from Laos and China, was delivered on Monday on the area of 9,800 square metres on Kaysone Phomvihane Avenue, Phonphanao village, Xaysettha district, Vientiane.

The project has an investment cost of more than 81.73 billion kip (US$10 million) by AVIC International Engineering Limited (AVIC Intl) from China that holds 60 percent and the Krittaphong Group Co Ltd from Laos which holds the remaining 40 percent.

Avic Townhouse has completed the goals of both stakeholders, said Zheng Yi, Managing Director of Avic International Investment (Lao) Co. Ltd in his speech at the delivery ceremony, appreciating the partners, customers and colleagues.

The delivery ceremony of the AVIC Townhouse was held at the project construction site, witnessed by Vientiane Mayor, Dr Sinlavong Khoutphaythoun, Chinese economic and commercial counselor to Laos Zhao Wenyu, stakeholders from both companies, representatives from Chinese and Lao companies and many overseas Chinese.

Laos is of great strategic significance in southeastern market, commented Wang Guanzhong, party secretary and deputy director of the Beijing Avic headquarters Group, which is one of the stakeholders of Avic House, adding the successful delivery has strengthened the company's confidence to launch more projects in Laos and make contributions to Sino-Laos friendship.

Established in 1980 and having expanded its operation in more than 30 countries and districts, Avic International Engineering Company has obtained remarkable achievements in the past years, stated Wang.

Orlathay Santikhongkha, Managing Director of another stakeholder Krittaphong Group also expressed her trust in the Chinese stakeholders and gratitude for the support of the Lao government.

Krittaphong Group Co., Ltd was established in 2005 and transformed into a group company in 2009. The company's main businesses cover the construction, hotel and tourism businesses, real estate development and investment consultancy fields.

AVIC Townhouse, designed by Thailand designers with a style of modern simplicity and the concept of “more than home,” is expected to create a familiar, livable and high-quality residence for customers.

The typical exquisite-furnished apartments, comprising of five bedrooms, two halls and five bathrooms, can offer customers the experience of getting it right the first time.

The community, equipped with small restaurants, convenience shops and badminton courts, has 24-hour non-stop security and property management. It is the best option for residences, offices and investment.

Dr Sinlavong, in his speech, congratulated the success of the delivery and presented his expectation for better development of Avic Intl. in Laos.

vientiane times



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