Post by Laoupdate on Jan 17, 2005 0:55:05 GMT -5
Shopping mall to replace Khuadin
Phonsavanh Vongsay
AN agreement on the Nong Chan trade centre development project may be signed this week, said Planning and Investment Department Deputy Director Dr Bouakham Thiphavong last week.
She explained that the project has Vietnamese investment worth almost 115 billion kip (over US$11 million), at Khuadin market, Nong Chan village, Sisattanak district, Vientiane.
"The centre will replace Khuadin market," said Bouakham. "The Lao Government purposes to develop the Nong Chan area as a trade centre with a sealed road (T1) to the centre and Nong Chan park."
The project covers a total of 15,260 sq m, including the road, and will comprise three buildings with courtyard, sidewalk and lines of trees covering 9,760 sq m.
"The construction work will start this year," Bouakham said, to be carried out by the Lao-Viet Trading Development and Joint Venture Company.
The first building of five storeys will cover 2,850 sq m, with 100-car parking lot and technical equipment rooms in the basement. The first to third floors will be shopping and services areas.
The second building, of three storeys, will cover 1,280 sq m, with a basement food market. The first to third floors will sell groceries.
The third building will be eight storeys covering 1,600 sq m, with a basement parking lot for 38 cars and technical equipment rooms.
The first and second floors will be offices, showrooms, and meeting rooms. The other floors will be offices, accommodation for business people and visitors, swimming pools and services.
The project will be constructed in three stages. The first will take 120 days, building temporary accommodation for the Khuadin market vendors, who will move into the five-story building when it is completed.
The second stage will take 24 months for the five storey building and T1 road, and the final 36-month stage will erect the three- and eight-storey buildings.
"The investment agreement is for 40 years, after which the centre will belong to the Government unless agreement is reached to extend the life of the investment," Dr Bouakham stressed.
Laoupdate
source: vientianetimes.org.la