In the past people used to view the Nongchanh area as a large empty space with nothing exciting going on. Today Nongchanh is on the way to being turned into the biggest and most luxurious shopping centre in town, according to Lao International Development Co., Ltd.
For nearly six months the company has been working day and night to finish part of the first phase of the WTC project. The public can now see some progress from the recent construction work.
Driving or walking along Khouvieng Road, especially through the area just next to Green Park Boutique Hotel, you can see many changes to the appearance of the area. Behind all the big billboards and posters surrounding the project, you can see a three-story building which is almost complete. This is part of the first phase of the WTC project. Completion of the building is going to be a significant moment for the company as it will play a fundamental role in raising the trust and confidence of the public in the WTC project.
According to an official from Lao International Development Co., Ltd, the almost finished building is an exhibition centre. Currently it is having water pipes and electrical circuitry installed. The company will also install a security system as well as ensure that the finishes and decoration will meet the required high standard and complex style. The building is valued at approximately 30 million Chinese Renminbi, which is equivalent to about US$6 million. The progress of the project can be followed through the media which will disclose information to the public on a weekly basis so as to make it easier for potential investors to decide on joining the project.
The Nongchanh area was left empty for many years before the Lao International Development Co., Ltd was successful in obtaining a concession. In the past, many investors were interested in developing the area as a park in order to provide green space and fresh air and create more places for Vientiane residents to relax. Unfortunately none of these projects came to fruition.
The Lao International Development Co., Ltd saw it as a good opportunity to get a concession of over 400,000 square metres of Nongchanh area to build an integrated World Trade Center in a single place. The WTC will comprise an international shopping centre, a commercial street, integrated food and beverage venues, apartments, office buildings, and other facilities to serve both foreigners and local people.
The total project will not just become a new image for Lao people. It will play a vital role in boosting the economy of the nation and supporting the growth of GDP to meet the government’s target of over eight percent.
The Lao International Development Co., Ltd has paid attention to every single detail of the project. As can be seen, the company has imported some building materials and equipment in order to ensure that the construction will meet international standards. In addition, a number of foreign construction experts have been invited to help the construction since June this year.
At the moment, the company is working hard to finish up the huge drainage system alongside Khouvieng Road. The system, costing over 24 billion Kip, is 1300 metres long and 2.5 metres high. After its completion, it will ease water flow around the whole area.
Source: Vientiane Times