Daewoo E&C breaks ground for $500m commercial project in Vietnam

South Korean builder Daewoo E&C held a ground-breaking ceremony of Vietnam Hanoi Starlake B3CC1 Complex, a $500 million development project that involves two multipurpose 35-story buildings in the Vietnamese capital, on Wednesday.

Spanning over 211,462 square meters of floor space, the complex will comprise a hotel and offices. Korean hotel chain Hotel Shilla will be responsible for the operations of the envisioned hotel.

Dignitaries including Daewoo E&C CEO Baek Jung-wan and Hanoi People’s Committee Vice Chairman Nguyen Trong Dong took part in the event, the company said.

“B3CC1 Complex is located at the center of Starlake City and it will become a landmark once Grade A offices and a five-star hotel move in,” said Daewoo E&C CEO Baek Jung-wan during his opening remarks at the event.

Vietnam Hanoi Starlake, located near Noi Bai International Airport in Hanoi, is a $2.2 billion new town that consists of residential, commercial and government agency buildings on 1.86 million square meters of land.