LVMC Holdings, formerly known as Kolao Holdings, has announced that it will build a new mid-low-priced apartment complex in the Lao capital Vientiane.
The timeline for the construction is unknown.
LVMC’s move is in response to an expected increase in demand for housing with the planned launch of the Laos-China railway.
The firm acquired 100 percent shares in GMS Trading Sole in Laos for USD 357,623 in December last year.
GMS Trading enjoys businesses in real-estate development and distribution of home appliances and agricultural products in Laos, and LVMC said at that time the purchase was aimed at pursuing “new business” without providing further details.
LVMC was first established in 1997 in Laos and adopted the brand “Kolao” in 2009 by setting up a holding company. It currently operates in Vietnam, Myanmar, Cambodia, Pakistan, and Laos.
Laos currently lacks a condo law, and is the only nation in ASEAN without strata title.