HCMC – Dong Nai General Services and Agriculture Cooperative (Dona Coop) on Monday cut the ribbon to open its real estate trading floor Donaland located along national road 51 in Long Thanh District in the southern province of Dong Nai.

Bui Thanh Truc, general director of Dona Coop, said the establishment of Donaland marked a further step of the cooperative in expanding into the real estate market and was in preparation for its and other partners’ property products to trade on the floor following property regulations.

Truc said Donaland would be active in property trading, consultancy and brokerage services and property management.

On the occasion, Dona Coop is offering apartments of the Dona Tower complex project which is being developed in Long Thanh Town. The project includes an 18-floor building, which includes sections for commercial and office space, and 614 luxury apartments for locals and expatriates. Dona Tower will be up and running by November 2011.

Dona Coop is working on several property projects in Long Thanh District, including a mammoth project named Long Hung Open Economic Ecological Urban Area covering 1,170 hectares.

Truc said that the environment friendly project required US$9 to US$12 billion to develop. When in place by 2022, the project will be home to residential sections, commercial centers, cultural centers, schools and hospitals.

The developer says the township project will include three smaller projects. Two of them will be developed in partnership with VinaCapital Group and Keppel Land, a Singaporean property developer.

The project owner says it will invest VND700 billion to work on the first phase, developing infrastructure with a road network linking the area to other locations in the province. (Saigon Times)