Published:  00:00 Wednesday - April 20, 2011

Ocean Hospitality and Services Joint Stock Company, or Ocean Hospitality, has started marketing a multipurpose property project and introduced opportunities for investment in the project to prospective investors.

Ocean Hospitality and Services Joint Stock Company, or Ocean Hospitality, has started marketing a multipurpose property project and introduced opportunities for investment in the project to prospective investors.

Ta Thanh Thuy, general director of Ocean Hospitality, said the company would spend VND400 billion to VND500 billion developing the Condotel StarCity Nha Trang project at a 2,500-square-meter site on Tran Phu Street in the central coast city of Nha Trang.

The project will have a total of 283 rooms, of which there will be 66 apartments of 33 to 99 square meters. Other serviced facilities will include conference room, swimming pool, restaurant, fitness center and shopping center.

The developer said it would launch 30 apartments in the first sale with prices starting from VND1.2 billion per unit.

Thuy said for this project the company would introduce a timeshare program in which apartment owners will sign trustee contracts with Ocean Hospitality to manage and lease their properties during non-use periods.

The Condotel Nha Trang StarCity project is expected to be up and running by the fourth quarter of 2013.

Ocean Hospitality also has the Saigon StarCity Hotel on Nguyen Van Troi Street in HCMC, the first project to be put into operation earlier this year.

Source: The Saigon times