Property developer Viet Hung Urban Investment and Development Joint Stock Company has been renamed into Ecopark Group Joint Stock Company.
The company has announced that Tran Quoc Viet replaced Dao Ngoc Thanh as its CEO.
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Thanh had been the company’s CEO since its establishment in 2003 but stepped down from its board of directors six months ago before he was elected chairman of management board of Vinaconex following the An Quy Hung Co. Ltd’s spending $320 million to acquire 58 per cent stake of State Capital Investment Corporation in the construction giant.
Viet was former deputy general director of Kinh Do Joint Stock Company, a confectionary manufacturer. He was elected to the board of directors of Ecopark six months ago.
Viet was expected to carry out the restructuring of Ecopark as the company will expand its business beyond property development.
Viet Hung Urban Investment and Development Joint Stock Company has been developing Ecopark new urban area in Hung Yen province for the last 15 years. The township, which is 15 kilometres from Hanoi centre, has managed to establish itself as a green, modern residential area, boasting clusters of luxury villas, townhouses and apartment complexes.
Most of its housing complexes were sold out before being handed over to buyers. Recently, the company launched the luxury villa complex – The Grand Islands, with a villa being sold for more than $1 million.
Ecopark Group said in a statement that the company will expand business beyond property development to include education, healthcare, clean agriculture, hi-tech, tourism and recreation. However, property development remains its pillar business, with plans to replicate Ecopark models in other localities across the country.
However, the company did not reveal where it will invest.
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