Dubai-based global real estate developer Limitless said work is progressing well at its Dh2-billion ($544 million) Halong Star development in Vietnam with infrastructure contracts due to be awarded over the next few days.

Limitless’ ambitious Halong Star project took centrestage at the inaugural Vietnam-Dubai Real Estate Investment Forum held in Dubai which was led by Pham Binh Dam, Vietnamese ambassador to the UAE.

The company cemented its commitment to the Southeast Asian country this week by sponsoring the forum.

Speaking at the opening ceremony, Mohammed Rashed Bin Dhabeah, the chief executive of Limitless, said: "We are proud to support this forum, which highlights the growing trade links between the UAE and Vietnam, and enables industry experts to exchange ideas and share their experiences on real estate, construction, design, finance and more."

"Vietnam offers huge opportunities for investment, especially for those involved in real estate and hospitality, who can benefit from the country’s rising tourism.  Last year, six million people visited Vietnam – and the figure is growing.  For this reason, Vietnam remains a key market for Limitless," he added.

Located at the Unesco World Heritage Site of Halong Bay on Vietnam’s north-east coat, Halong Star is a sustainable mixed-use development that will set new standards in creativity, meet the area’s demand for hotels and residential accommodation, and create hundreds of new jobs.

The initial phase of the project will feature around 2,000 villas, townhouses and apartments, as well as extensive retail and leisure facilities and two hotels.

The project will be coming up in Quang Ninh province, which welcomes nearly three million overseas visitors each year.

Limitless said the project is progressing well with the construction of the main access road already under way. The earthworks began earlier this year.-TradeArabia News Service