After SonKim Land was selected for the developer of the Metropole Thu Thiem project in early this month, Keppel Land has sold two thirds of its shares in Quoc Loc Phat Joint Stock Company to recoup investment.
The major shareholder of Quoc Loc Phat Company, which is the owner of Song Viet complex in Thu Thiem urban area, HoChiMinh city has recently transferred most of the shares to another investor.
Hongkong Land has surpassed many other foreign investors to become Ho Chi Minh City Infrastructure Investment JSC (CII)’s partner to develop a 1,140 apartment project.
Given the lack of supply and the increasing rents in the existing central business districts (CBD), JLL anticipates that large companies will start to consider Thu Thiem as a viable alternative for hiring their head offices.
Quoc Loc Phat Joint Stock Company was selected as the investor of Song Viet complex with the total investment of VND7,300 billion (equivalent to US$321,7 million) and area of 75,965 square.
The People's Committee of Ho Chi Minh City (HCMC) and Korean-based Lotte Group entered into a contract on implementation of Eco Smart City project in Thu Thiem New Urban Area, district 2, HCMC. The project has the total estimated investment capital of VND20,100 billion (equivalent to US$883 million) with a construction period of 72 months.
Publication permit No. 348/GP-BTTTT dated July 19, 2017, granted by the Ministry of Information and Communications of the Socialist Republic of Vietnam
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