Business
Aseana to develop first Hi-te
Aseana to develop first Hi-te.
About this update from Aseana Properties Limited
[{"type":"text","content":"\n RNS Number : 0761C Aseana Properties Limited 27 August 2008 \n \nDate: 27 August 2008\nOn behalf of: Aseana Properties Limited ('Aseana' or 'the Company')\nEmbargoed for: 0700hrs\n\nAseana Properties Limited\n- Major acquisition in Vietnam\n- To develop first International Hi-Tech Health Park in Ho Chi Minh City \n\nAseana Properties Limited (LSE: ASPL), a leading Asian property developer on the Official List of the London Stock Exchange, today announces that it has acquired a 51% interest in the development of the International Hi-Tech Health Park in the Binh Tan District of Ho Chi Minh City, Vietnam. Aseana Properties will invest approximately US$27.6 million for the development, which has a total gross development cost of approximately of US$420 million. The project was licensed and approved by the People's Committee of Ho Chi Minh City on 10 July 2008 and is expected to commence development in the fourth quarter of 2008.\n\nLocated on 37.54 hectares of prime land, the International Hi-Tech Health Park will consist of world class private hospitals, mixed commercial, hospitality and residential developments with a healthcare theme. The project will be developed over five phases. The first phase of the development will be anchored by an international standard tertiary care, teaching hospital and supporting residences. The next phases will include medical centres, serviced apartments, offices, a retail mall and hotel, completing the integrated nature of the project. The various development components of the project have already attracted a number of well-known, international healthcare investors. Aseana Properties will perform the role of a master developer through the consortium, responsible for planning, developing and marketing the International Hi-Tech Health Park.\n\nThe International Hi-Tech Health Park, when completed will have approximately 1.01 million square metres of gross floor area, providing a world class integrated healthcare and commercial hub in a well designed park setting. The park will serve the population of some 8 million people in Ho Chi Minh City&nbs...