Work On Vientiane New World To Start In April
The resumption of the Vientiane New World development project on the Mekong River is drawing closer, with construction slated to begin in April.
The development will be built alongside Chao Anouvong Park and between the ASEM Villas and the Landmark Hotel, on Fa Ngum and Don Chan roads.
The design concept for the complex has been revised slightly, and the area near Chao Anouvong Park will be on a low-rise scale in keeping with the area, comprising pedestrian walkways and a shopping and entertainment precinct.
Meanwhile the site between the Don Chan Palace hotel and the ASEM Villas is slated for more intensive development, and will include a commercial precinct with buildings up to 30 storeys high, bringing a modern face to this part of the capital.
The third section of the development, the area between the ASEM Villas and the Landmark Hotel, will become a medium density residential area including luxury houses up to three or four storeys high.
This riverfront site near Chao Anouvong Park in Vientiane will be developed into a pedestrian precinct and shopping and entertainment areas.
Many people thought the development had stalled after the ASEM Summit, but in fact the plans for the precinct were undergoing revision and work is now set to resume.
The developers wanted to reduce the building heights to reflect the low rise character of central Vientiane and preserve the profile of the Mekong riverbank.
Sales and Marketing Director of CAMCE Investment (Lao) Co., Ltd., Mr Hao Chengsong, told Vientiane Times on Wednesday the developer is hiring an internationally renowned company to improve the design plans so that the development is more in keeping with the riverine nature of the area.
The developer will still stick to the existing plan regarding the timeframe and the cost of the project. A joint venture between Lao and Chinese companies, CAMCE Investment will spend more than US$600 million to build the project, which is expected to take six to eight years to complete.
The whole development covers an area of 42 hectares with construction to take place on over 700,000 square metres. The project consists of three main areas: the International Cultural and Tourist Centre, the International Business Centre and the International Residence Centre. The complex will feature stylish walking streets, shopping malls, cinemas, offices, hotels, serviced apartments and garden apartments.
The ASEM Villas were the first phase of the Vientiane New World project and were built to house delegates attending the Asia-Europe Meeting (ASEM) Summit in November last year.
The developer has pledged to plant trees and ensure that the project harmonises with the historical and cultural values of Laos to create a unique feature in Vientiane.
An underground car park will help to reduce possible congestion in anticipation of the many people who will visit the area.
According to CAMCE Investment Lao Co., Ltd., the Vientiane New World project will provide more than 5,000 direct and indirect jobs and contribute to the growth of the Lao economy.