The upcoming 75th anniversary of the Lao People’s Army will be marked with the grand opening of the towering 33-story Latsavong Plaza in central Vientiane Capital on 22 March.
Currently, at 89 percent completion in both construction and interior fitting, the building, situated on a 150,000-square-meter site, promises to provide accommodations for visitors during the ASEAN Summit. Brigadier General Siphonxay Khamthongveun, Director General of the Economic Department of the Ministry of National Defense, reaffirmed on 10 January that the project, employing a substantial local workforce, is on track to meet its deadline.
The USD-99-million project, a joint venture between the Ministry of National Defense and China’s Chongqing Real Estate Company, includes the construction of a 5-star hotel and associated facilities, offices, apartments, a healthcare center, and a large shopping complex.
The project has secured a 99-year concession, and it involves collaboration with 21 Chinese partner companies, engaging more than 1,500 professionals and workers, with China’s Chongqing Real Estate Company overseeing the construction.
Initiated in 2013, construction faced financial and regulatory challenges, leading to a temporary suspension in 2016. After a five-year pause, the project resumed in 2021 as the Ministry of Defense formed a task force to address lingering issues, securing investor support to facilitate the project’s continuation.
As the tallest building in Laos, Latsavong Plaza is expected to strongly influence trade, investment, tourism, and real estate development, and its position in Vientiane signifies the city’s rapid modernization, setting new hospitality standards and strengthening the cooperative ties between Laos and China.