Hung Yen, Vietnam – July 23, 2025 – Daewoo E&C is proud to announce the official launch of the FO;RES Starlake Urban Area development project in Hung Yen province. This landmark strategic initiative represents a 10-year journey with a total investment of $390 million (approximately 10,000 billion VND). This project not only reaffirms Daewoo E&C’s long-term commitment to Vietnam but also promises to create a modern, high-class living space, contributing to the urban transformation of the province.

This development is a key part of Daewoo E&C’s global expansion strategy, applying the successful Korean-style new city model that has been proven in international projects, most notably the Starlake project in Hanoi.

Project Overview

• Prime Location: The project is situated in the 03 districts of Tran Hung Dao, Tran Lam, and Vu Phuc, which is the medical and education center of Hung Yen Province.
• Impressive Scale: Spanning a total area of 96.37 hectares, the project features a diverse development mix:
  • 1,402 villas and terraces.
  • 05 apartment blocks and 01 social housing zone.
  • Other components include a large-scale shopping mall, an international-standard hotel, and 2 landmark towers.
• Legal and Ownership Rights: Villas, terraces, and apartments will be granted long-term land use rights. Foreigners can also own apartments in the project with a 50-year ownership term, which can be extended.

Strategic Location and Growth Potential

Hung Yen province is emerging as a new industrial hub with significant potential, thanks to its young labor force and rapidly developing infrastructure. The recent merger with Thai Binh province has increased the total population to nearly 3 million, creating a vast market.

The area boasts excellent connectivity with arterial expressways such as Hung Yen-Hanoi and Ninh Binh-Hai Phong. This is complemented by approximately 2,000 hectares of operational industrial parks, which have attracted global corporations from the US, South Korea, Taiwan, and China.

Development Roadmap

Daewoo E&C has established a clear roadmap to ensure the project’s progress and quality:

• Groundbreaking: Mid-2026.
• Compensation Completion: Within 2026.
• Official Sales Launch: Early 2027.

With extensive experience, a strategic vision, and a deep understanding of the local market, Daewoo E&C is committed to developing the FO;RES Starlake New Urban Area into a symbol of prosperity. We will deliver high-quality residential products and infrastructure, contributing to the sustainable development of Hung Yen province and Vietnam.