Worth around US$2 billion, the urban area will be developed on an area of 600ha and will encompass the three communes of Long Tan, Vinh Thanh, and Phuoc An.
The construction will be carried out in four stages –the planning and land-related preparations will be completed by 2013, a medium-density residential areas will be built along Road 25C from 2013-15; the high – medium density residential facilities will be built by 2018; and the project is scheduled for completion by 2020.
The Prime Minister approved the project last month and entrusted the Dong Nai province People’s Committee with tying up the loose ends, regarding the licensing.
This is the biggest foreign direct investment project to be licensed in Dong Nai this year, and the company’s second there.