Local real estate firm develops three-star hotel in Laos

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Saigon Invest Group (SGI), which has interests in many areas including real estate, infrastructure development, finance, banking and energy, has broken ground for construction of the SGI Lao Hung Hotel in Houaphanh Province.

This is the firm's third project to be licensed in Laos.

The US$3 million three-star hotel, designed to international standards, will be the province's largest hotel when it opens in 2013. The project will be built in two phases consisting of three main areas: restaurants and bedrooms (four floors with 28 rooms); commercial and ofice spaces; and meeting halls.

The firm is also preparing to break ground for construction of two hydropower plants in Laos with a combined capacity of 1,000 megawatts and a total investment capital of $1 billion.

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