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The whole share volume owned by Poso E&C Co. (South Korea), equivalent to 50 per cent of the total shares at Splendora in Hanoi, has been transferred to Phu Long Real Estate JSC of billionaire Nguyen Thi Phuong Thao. Phu Long, which is under Sovico Holdings Company, is a big real estate company in Ho Chi Minh City. It has carried out major projects like Dragon City (33 hectares), Dragon Riverside City (3.1ha), Dragon Village (21.6ha), and developed HDBank Tower and Sovico Phu Quoc. Before acquiring 50 per cent of Splendora’s shares from Posco E&C, at the end of 2017, Phu Long raised its charter capital from VND700 billion ($30.85 million) to VND3 trillion ($132.2 million).

Chairwoman Nguyen Thi Nga of BRG Group met with HCMC Chairman Nguyen Thanh Phong yesterday to seek the city government's backing for a plan to build a five-star hotel called Hilton Garden Inn Saigon in District 1, HCMC.

Being officially launched on December 23rd, 2017 in Ho Chi Minh City, Regent Residences Phu Quoc was built by general contractor - Hoa Binh Construction JSC - the only contractor being voted as "National Brand" for five consecutive years; Regent Residences Phu Quoc will be completed by 2020 soonest. Regent Residences Phu Quoc - with the cooperation of BIM Group and the Regent Hotels & Resorts is expected to build the standard of 6-star resort in Vietnam.

Apartment for foreign experts: The potential 'billion-dong' segment

According to the latest real estate report, the total condotel supplies in 2017 have reached 66,000 units. By the end of this month, Berjaya D2D Vietnam a multinational corporation from Malaysia - will introduce more than 700 high-end apartments in the Topaz Twins project, price from VND1.3 bil per unit. In addition to the Berjaya - D2D Group, Toan Thinh Phat Co., Ltd. is also investing in a high-end project with hundreds of high-end apartments for rent for foreign experts. In addition, Creed Group in cooperation with An Gia will launch a project worth nearly VND 1,000 bil with nearly 500 apartments.

Phu Quoc urges careful consideration over land purchases

Authorities in the southern province of Kien Giang’s Phu Quoc District urged careful consideration to be given to decisions regarding land purchases. According to Huynh Quang Hung, deputy chairman of the Phu Quoc People’s Committee, land prices in Phu Quoc rose around 80-90% in November. The land prices were pushed up rapidly due to information that the island district would be developed into a special administrative-economic unit with a casino going to be put into operation and a number of investors planning to pump money here.