PETALING JAYA: Berjaya Land Bhd (BLand) said the company is in negotiations and discussions with the Vietnamese Northwest Management Area Authority to revise the master plan on part of 925ha comprising 250ha in Ho Chi Minh City that has been allocated for the university township, which is also known as the VIUT project.
“The revised plan now includes a mixed development covering bungalows, link houses, apartments and retail shops which are more affordable and cater more effectively to the existing demands in Ho Chi Minh City,” BLand said in an announcement to Bursa Malaysia.
The company added that it has already commenced site clearance works and soil investigation works are on-going for the said project.
The project has been delayed due to various reasons including the untenable economic climate in Vietnam in the last few years, BLand added.
News wires, quoting the Saigon Times, said the US$7.35bil project had been reportedly placed under review.
The reports said the investment license was awarded to BLand some eight years ago. The integrated township was planned with four main themes - work, knowledge, lifestyle and leisure. The project was supposed to commence in 2009 and scheduled for completion in stages from 2011 to 2021, earlier filings with the stock exchange said.
