New lease of life for dormant lakeside edifice. (Property & construction: the leading guide to Vietnam's property market).

Vietnam Investment Review, March, 2002

VIETNAM Insurance Corporation, better known as Bao Viet, last week announced it would invest $3.33 million to transform the dormant Golden Hotel into an office building.

The controversial construction was abandoned when foreign investors pulled out in the late nineties.

Bao Viet is to contribute an 85 per cent stake and VP Bank, the remaining 15 per cent.

The project was aired at a display of five architectural designs that the investors and Vietnamese architects selected from 17 entries. The designs are to be showcased for a week and Bao Viet is to make a final decision after gathering feedback.

Company chairman Truong Moc Lam said the new design would meet the architectural requirements of Hanoi People's Committee and Hanoi...