Limitless has signed a new joint venture agreement for the construction of Halong Star, its mixed-use residential and tourism project in Vietnam.
The Dubai-based international developer has partnered with Hanoi-based Sovico Holdings to develop the project, which includes homes, retail facilities and a hotel, all overlooking the UNESCO World Heritage Site of Halong Bay on Vietnam’s north-east coast.
The joint venture agreement was signed in Ho Chi Minh City by Ibrahim Al Fardan, Managing Director of Limitless and Mr Chu Viet Cuong, CEO of Sovico Holdings,whose business interests include finance, real estate and air transport. Representatives from Sovico Holdings’ subsidiaries, including VietJet Air and HD Bank, also attended the ceremony.
Ibrahim Al Fardan, Managing Director of Limitless, said: “We are moving forward with our project in Vietnam. Halong Star is key to Limitless’ portfolio, and we are delighted to partner with Sovico Holdings – a high-profile and trusted name in Vietnam and south-east Asia – in order to turn the project from a vision into a reality.”
Sovico Holdings will now, on behalf of the joint venture, complete the necessary formalities in order for the project to get underway.
Image: Mr Ibrahim Al Fardan, Managing Director of Limitless (fourth from right), signs the new JV with Mr Chu Viet Cuong, CEO of Sovico Holdings.