Keppel Land Watco I licensed to build highest twin tower in HCM City

Vietnamese prime minister issued an Official Letter No 8607/VPCP-QHQ allowing the joint venture of Keppel Land Watco I Co to continue to carry out construction on the highest twin tower including an 88-storey building and a 66-storey building in HCM City's Dist 1.

However, Keppel Land Watco I has to be restructured.

In the joint venture with Keppel Land, Vietnamese partner will have to transfer their rights and responsibilities to the foreign partner according to the market principle. Keppel Land will sign a land renting contract to continue with the property project as a 100% foreign investment.

The project covers a site of 2 hectares.

Source: vnbusinessnews