Sunwah president Jonathan Choi is in Vietnam for a visit - Photo: Dinh Dung

Sunwah Group, the developer of an office building and a high-end apartment high-rise in downtown HCMC, looks set to get involved in low-cost housing development projects in the city.

Sunwah president Jonathan Choi told the Daily that his group, which is based in Hong Kong, China, would set aside about US$100 million to develop an apartment project near Tan Son Nhat International Airport. However, he declined to reveal the scale of the project, on which work is projected to start in the next two years.

Located in a densely populated area, the scheme is expected to meet the local housing demand.

After 40 years of investing in the areas of agro-product processing and export in Vietnam, Sunwah began its involvement in the property market with the grade-A Sunwah Tower in HCMC built in 1993.