KBC to invest in largest hotel project in Hanoi

VNStockNews.com - Kinh Bac Urban Development Joint Stock Co (coded KBC) has announced that it would make investment in the project of multifunctional complex centre and five-star Hoa Sen Hanoi Hotel.

According to Document No 1791/TTg-KTN, the prime minister has assigned Hanoi City people's committee for selecting the qualified investors to carry out Hoa Sen Hanoi Hotel project, to be built on a site of over four hectares next to National Convention Centre. The selected investor would replace the previous investor of Riveria Group, Japan to carry out this project.

In the report sent to the prime minister, Hanoi City people's committee had mentioned the qualified investor of Kinh Bac Urban Development JSC. KBC has worked with the Japanese investor to receive all the concerning documents about designing works and relating commitments, including the guarantee fund and land-lease charges.

The project's total investment capital was posted at about $500 million, including about 550 luxury rooms. It's considered the largest hotel in Hanoi so far.