Nova Real Estate Joint Stock Co (Novaland), a subsidiary of Novaland Real Estate Investment Group plans to carry out the construction work on HCM City-based Sunrise City Complex, using the capital of 1.922 trillion dong corporate bonds with deposit term of five years and coupon rate of 12 percent per year that have already been issued successfully.

The high-rise complex of apartments and trade centre will be built on a site of 5.2 hectares on Nguyen Huu Tho St, Tan Hung Ward, Dist 7, HCM City, including 14 towers with total investment capital of over $500 million.

After its completion in 2012, Sunrise City will provide 1,804 modern, high-class apartments to the market and a trade centre of 70,000 square metres.

Lately, Vietcombank has already signed contract with Novaland to purchase over 5,000 square metres in Sunrise City trading centre for setting up the banks South Saigon branch, the second largest branch of Vietcombank in HCM City.

At present, Novaland is conducting the third sales session of about 500 apartments in four towers of V2, V3, V5 and V6 for the investors.