In this cooperation project, Halong Investment and Development (BIM Group) plays the role as an investor while Toong, Vietnam’s first professional large-scale co-working space, is the development consulting, project management, business operation and exploitation agent.
Toong Royal Square co-working space is located in the 100,000 square meter Royal Square complex developed by BIM Group. The complex consists of five-star hotels, class A office and one of Vientiane’s most high-end trade centers.
Crowne Plaza hotel, a part of the complex, was opened in April 2017, marking a milestone when the first five-star international hotel in Laos was put into operation.
Toong Royal Square is conveniently located on the corner of Samsenthai Boulevard, next to Fa Ngum Park, which is home to the famous Chao Fa Ngum Statue.
Toong Royal Square offers panoramic views of the Mekong River, a 10-minute drive to Wattay International Airport and the capital’s center for government and business.
Expected to open in June 2018, Toong Royal Square would make Toong become the first co-working space chain based in Indochina.
Co-working space is a completely new service to the Lao market in which traditional offices have occupied the absolute space. By developing the co-working space in the first grade A complex in Vientiane, BIM Group and Toong are creating a new standard in work and lifestyle for the Radical social entrepreneurs (RsEs).
Toong is Vietnam’s first co-working space providing a modern and high-quality working environment for individuals and small and medium enterprises. After more than two years of operation, Toong has developed six locations in Vietnam's major cities including Hanoi, Danang and Ho Chi Minh City.
"More than two years ago, we launched our first location in Hanoi, with most people in Vietnam thinking that this was an inappropriate service. However, co-working space has been developing strongly in both Hanoi and Ho Chi Minh City," said Toong’s founder and CEO Duong Do.
"Laos is a new market where we could find the potential for this co-working space model since we develop a co-working space not only as a solution for a comfortable, economical workplace but also a civilized and creative living and working culture," he added.
BIM Group has been known as one of the largest real estate developers in Vietnam and is also the pioneer in exploring the potential of new markets such as Quang Ninh, Phu Quoc, and the recent Vientiane.
BIM Group has been developing a number of large real estate projects in Vietnam and international arena such as Syrena Tower; Fraser Suites luxury apartments for rent in Hanoi with over 95 per cent of occupancy rate and Halong Marina urban area.
BIM Group is also developing the Phu Quoc Marina, a world-class resort, and recreation complex with a total area of 155 hectares, including the InterContinental Phu Quoc Long Beach Resort & Residences and the Regent Phu Quoc resort.