A 28-floor five star hotel, which is expected to be the largest hotel in Laos when completed in mid-2014, will be built to replace the current Rasavong Hotel in central Vientiane.
The US$100 million hotel is a joint investment between the Ministry of National Defense, which will hold a 25 percent shareholding and the Regal Global Investment Development Group. The project contract is for a period of 99 years and the hotel will replace the existing Rasavong Hotel at km5 area in Xaysettha district.
According to the group, the hotel will consist of 350 rooms, including 20 VIP rooms and 30 suite rooms, on a total area of 120,000 square meters.
The hotel will also contain a shopping complex, as well as restaurants, entertainment facilities and a cinema. Construction is expected to start early next year and take 2 ½ years to complete.
It will be the largest 5-star hotel in Laos, with high quality rooms to accommodate business people and honoured guests. It’s expected that the hotel will create about 400 jobs.
The Regal Global Investment Development Group is also developing a shopping complex in Vientiane (see our article here), with construction scheduled for completion by 2014. The US$ 50 million shopping plaza, Regal MegaMall City, will be build in Sikhay village.
The group is a comprehensive international investment and development company with shareholders in Taiwan, Singapore, Hong Kong and China. The group and its partners have invested over US$10 billion into Asian markets during the last 30 years.
Source: Vientiane Times