Dragon Capital strangely purchases a 15 per cent stake in Hai Phat

By Minh An - Dec 17, 2017 | 11:33 PM GMT+7

TheLEADERDragon Capital signed an investment contract with Hai Phat Investment Joint Stock Company (Hai Phat Investment); however, the deal has not been disclosed in details.

Dragon Capital strangely purchases a 15 per cent stake in Hai Phat
The Pride complex.

Hai Phat Investment owns many real estate projects in Hanoi and is quietly expanding its business to other provinces.

Hai Phat Investment is the investor of The Pride complex with more than 2,000 apartments in Hanoi. The Company is also developing other large-scale projects such as Roman Plaza, HPC Landmark 105 (acquired from Usilk City project), Hanoi Homeland.

In addition, the Company owns many other potential projects in cities and provinces, namely Nha Trang, Da Nang, Hoi An, Binh Thuan, Bac Ninh, Thai Binh.

Recently, the Company has increased its charter capital to VND1,200 billion (US$52.9 million) for investment and development of projects. Do Quy Hai, Hai Phat Investment’s Chairman, holds over 50 per cent Hai Phat Investment’s stakes.

Meanwhile, Dragon Capital which was founded in 1994 with US$16 million is now Vietnam’s longest established independent asset manager with over US$2.32 billion (as of 31 July 2017 – unaudited) in listed equity, clean-tech, fixed income and real estate for international pension and sovereign wealth funds and endowments. 

Dragon Capital’s biggest investment fund is Vietnam Enterprise Investment Ltd (VEIL) worth US$1.23 billion.

In the field of real estate, Dragon Capital is managing a fund worth nearly US$70 million named Vietnam Property Fund.

Dragon Capital's investment funds are investing in real estate companies such as Khang Dien House Trading and Investment Joint Stock Company, Binh Chanh Construction Investment Shareholding Company (BCCI), Development Investment Construction Joint Stock Corporation, etc.