Korean company set to open duty-free shops in Da Nang

Nicole Mezzasalma

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Stores will be first duty-free concessions in Vietnamese city

South Korean construction firm Kreves Development Co will build an apartment and office building complex in Da Nang, Vietnam, which will include the city’s first duty-free shops. Work on the $200m complex, covering an estimate area of 90,000sq m (968,752sq ft), is expected to begin in the middle of 2008.

About 1,600 flats will cover 30 floors of the structure, and the remaining space will include duty-free shops, supermarkets and schools. A senior Kreves representative told local media: “The duty-free shops will help attract more visitors to the city as there have never been duty-free shops here.”