Laos: Riverview Apartment Project Opened For Sales
(KPL) Riverview, an 8-storey apartment project, a US$6.6-million joint venture between Aanandi Lao Co., Ltd and Creed Group Company, has been opened for sales. Commenced in February, 2018, the construction project has been completed by 30%. It is expected to be fully built by the end of next year.
The customers who have purchased the apartment units of the project since December 1 mainly include foreign companies, embassies and local residents, according to the Director of the Aanandi Lao Co., Ltd, Ms Sue Ma.
“Our apartment project is located in Thadeua Road, Km 6, Haisok village, Sisattanak district, Vientiane Capital. It has 8 storeys and 78 rooms. We will sell only the 4th, 6th, 7th floors. They have beautiful views, close to the bank of the Mekong River. The other floors are reserved for office and business purposes,” said Ms Sue Ma.It will be ready for customers to move into in early 2020. It is priced at US$120,000 per unit. Foreigners, according to the law of the Lao PDR, can place a rent for 30 years and renew it twice.
The Riverview project is financed with a US$2 million loan from the International Finance Corporation (IFC), a sister organization of the World Bank and member of the World Bank Group. IFC is the largest global development institution focused exclusively on the private sector in developing countries.