Dubai developer Limitless hosted Vietnam’s Deputy Prime Minister as part of the Vietnam Days in the UAE event, at which the two countries agreed to boost trade, investment and labour co-operation.

Nguyen Xuan Phuc and his delegation – including Vietnamese Ambassador Pham Binh Dam, the Minister of Construction and the Minister of Justice – were welcomed by Ali Rashid Lootah, chairman of Limitless, said a statement.

The group held discussions on mutual opportunities for investment, before attending the Limitless-sponsored Vietnam Business Leaders Forum.

Mohammed Bin Dhabeah, chief executive officer, said: “We are honoured and proud to lend our full support to this event, which puts the spotlight on the wealth of opportunities available in Vietnam.  With its favourable location,  population structure,  and commitment to providing an attractive business environment for foreign investors, Vietnam offers a diverse range of opportunities to foreign investors.

“Limitless has already seized the opportunity to invest in Vietnam, having identified a gap in the market – the need for high quality developments that provide a solid base for future growth – made all the more attractive by favourable labour costs and land values.”

Limitless is developing the mixed-use Halong Star project in Vietnam. It is located high above the Unesco World Heritage site of Halong Bay and will consist of a residential, retail and hotel facilities.  

Earlier this year, the Quang Ninh authorities approved Limitless’ investment certificate for the project, allowing the developer to legally move forward with its development.  

Limitless recently appointed global consultants CBRE to provide an updated assessment of the market and Singapore-based RSP Architects, Planners and Engineers to review and enhance the current master plan, based on CBRE’s findings.

The work is expected to be completed in the first quarter of next year. - TradeArabia News Service