Al Square Participates in Daewoo Construction Vietnam New Town Complex Development Project

A bird's-eye view of the H1HH1 block in Starlake City being developed in Hanoi, Vietnam.

[Asia Economy Reporter Kim Min-young] RSquare announced on the 28th that it has jointly signed an investment contract with Daewoo E&C, Kyobo Securities, and JR Investment Management to promote the Star Lake City H1HH1 Block complex development project in Hanoi, Vietnam.

The investment contract ceremony held on the 26th was attended by Yoon Yeo-shin, RSquare Chief Sales Officer (Vice President), Han Seung, Head of New Business Promotion at Daewoo E&C, Ahn Shin-young, Executive Director at Daewoo E&C, and Han Jung-soo, Director at Kyobo Securities.

This project involves constructing and operating two apartment buildings (228 units) with 2 basement floors and 23 above-ground floors, one office building, and commercial facilities on the Star Lake City H1HH1 Block. The project cost amounts to 185.5 million USD (approximately 222 billion KRW).

RSquare, together with Daewoo E&C, Kyobo Securities, JR Investment Management, Eugene Investment & Securities, Samgu INC, and Woomi Global, will jointly invest to establish a fund for equity investment in Vietnamese real estate development projects, and will set up a project corporation in Vietnam to carry out the project.

Yoon Yeo-shin, Vice President of RSquare, said, "The Star Lake City project is a core project developing a new city in Vietnam similar to Bundang or Ilsan, so RSquare's asset management, leasing, and interior capabilities will shine."

The Star Lake City project is a new city development project in Vietnam being promoted by Daewoo E&C with an investment of 2.3 billion USD (approximately 2.66 trillion KRW). It plans to develop apartments, commercial, and office facilities on a 2.1 million square meter area in the Tay Ho district northwest of Hanoi.

This content was produced with the assistance of AI translation services.