Thai Amata Wins License for $23 Million Realty Project in Vietnam

Tuan Minh

15:11 08/04/2016

BizLIVE - Thai industrial park developer Amata has won a license for a $23 million residential and commercial project near Ho Chi Minh City.

Thai Amata Wins License for $23 Million Realty Project in Vietnam

A view of Amata City Bien Hoa in Dong Nai province. (Photo: Internet)

The Dong Nai Industrial Zone Authority has granted Thailand’s industrial park developer Amata VN Pcl a new license to develop a $23 million residential and commercial project in the province, which is adjacent to Ho Chi Minh City.
The firm will carry out the Amata Service City Long Thanh 1 project on an area of 55.4 hectares, or around 53% of the total land plot for which the company submitted licenses in the southern province, Reuters cited the Thai firm as saying in a statement.
The construction of the project including warehouses and a logistics facility is scheduled for kick-start in 2018 and completion in 2019, when the land will be ready to serve both domestic and foreign investors, according to the statement.
The company is developing its Amata City Long Thanh, a high technology industrial park project on 410 hectares of land for which it received a license in 2015 and is expected to come into operation in 2017.
Amata VN also applied for another two licenses to develop two projects with a combined area of 801 hectares and is expected to receive the licenses in the third quarter, it said.
In December 2015, Somhatai Panichewa, chief executive of Amata VN Plc, tipped that Amata together with domestic partners were working on a hi-tech urban-industrial complex, named Amata City Ha Long, in the northern province of Quang Ninh.
This project will stretch on an area of 5,789 hectares and will have an initial investment of $1.6 billion. Once in place, the estate will accommodate investors of the automatics, biology, information technology and electronics industries.
Amata VN, one of top three foreign-owned industrial park developers in Vietnam, has run Amata City Bien Hoa since 1994.