HAGL, a Vietnamese business group that invests in construction projects ranging from residential development to hydropower dams, says it is interested in moving into Burma’s housing market. The company has already won approval for a proposed US $300 million hotel, shopping mall and office tower complex that it plans to build in Rangoon bu 2018. According to Vietnamese news website VnExpress, the company’s general director said that Burma’s housing market is attractive because it is “new,” and because of slumping demand in Vietnam due to a prolonged economic slowdown.
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