VNBusinessNews – Taiwan’s Fei Yueh Vietnam Company inked a hotel management contract on February 18th with the Japanese JAL-Hotels Company to construct a five-star Nikko Saigon Hotel at 235 Nguyen Van Cu Street in District 1, Ho Chi Minh City.

The Fei Yueh Company will spend around US$ 100 million to build the 25-story Nikko Saigon Hotel, which will also include three underground stories. The new hotel will have a total of 335 rooms and 47 luxury apartments, along with a conference hall, a restaurant, a gymnasium and high-quality, luxury shops.

According to Lin Ching Po, CEO of Taiwan’s Fu Tsu Company, the holding company of Fei Yueh Vietnam, the hotel is part of the second phase of the Royal Centre Project being undertaken by Fei Yueh in Vietnam.

In the first phase, two 14-story apartment towers and a trade centre were finished and brough into use on December 4th, 2008. The third phase of the Royal Center Project will start in 2011.

Construction of the Nikko Saigon Hotel will also be finished by October, 2011, Lin said. (SGT)