UAE’s Nakheel Group to invest in QuangNinh project

visual from www.investinquangninh.vn

Nakheel Group, a leading investment firm in Dubai, is planning to invest in the Ha Long Star complex, a QuangNinh based project with an investment outlay of $550 million. This was revealed by the Committee of Promotion and Investment Support at QuangNinh (QuangNinh IPA).

The officials at Nakheel Group have already signed a memorandum of understanding (MoU) with QuangNinh officials and are expected to visit the province in 2015 to implement the investment.

The exact size of the proposed investment was not disclosed.

The Ha Long Star project covers an area of 125 hectares and will include a five-star 250-room hotel, 226 villas, 85 townhouses and residential building with 114 apartments along with entertainment complex and commercial center.

In recent months, a Taiwanese group – Happiness Cement Corporation has also shown interest to invest about $1 billion for developing an eco-tourism complex in Quang Yen commune, northern district of QuangNinh province.

QuangNinh province, which has a population of 1.1 million, is being developed as resort city in Vietnam, in tandem with its UNESCO World Heritage Site – Ha Long Bay. It is one of the most attractive provinces in Vietnam to investors who are interested in tourism.

Nakheel Group is a Dubai-based real estate developer and has many major projects to its credit,including the world famous $14 billion Palm Island Jumerah. In the first six months of 2014, the group reported profits of Dh1.85 billion ($504 million), an increase of 54 per cent compared to the same period last year.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.