Billionaire Thao's company replaces Posco E&C in Splendora
The whole share volume owned by Poso E&C Co. (South Korea), equivalent to 50 percent 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 percent 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).
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Condotels in Phu Quoc: Golden eggs that sextuple in profit
Phu Quoc is currently a real estate whirlpool, offering about 254 projects worth VND 377.836 trillion that are to be developed by property giants like MIKGroup, Sun Group, CEO Group. As a result, Mövenpick Resort Waverly Phu Quoc comes as an ideal resort project at the right time as it is expected to be the goose that will lay golden eggs for 6-folds profit. Located in Ong Lang Beach in Phu Quoc, developed by MIKGroup, and expected to start operation in Quarter 4 2018, Mövenpick Resort Waverly Phu Quoc boasts 329 five-star units that overlook the stunning ocean.
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New tourism project launched at Phu Yen
The construction on a resort and eco-tourism complex was launched in the central coastal province of Phu Yen on January 18th. The HCM City-based Tan Viet An House Trading and Investment Joint Stock Company have total investment of VND560 bil (US$24 mil) in the complex. It is expected to create jobs for about 450 local workers.
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http://www.colliers.com/en-gb/vietnam/about/media/2018-24-01-new-tourism-project-launched-in-phu-yen
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Luxury apartments: Up-to-date housing trend
According to market survey, many luxury real estate projects have been completely sold, even outsold. For example, Phu My Hung opened the Chateau villa complex for sale a few years ago with the most expensive price of VND 97 billion a unit in District 7 or the luxury villas in District 2 with the highest price of $5.38 million, Vingroup launched 88 luxury villas - The Villas in Vinhomes Central Park urban area. According to a real estate expert, for high-end real estate projects, besides prices, homebuyers are now demanding a series of other factors such as prime location, living space, design as well as utilities.
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Hotels launched in Da Nang
The Empire Group has launched the Pulse hotel in the chain of Boutique Hotels Cocobay including Pulse, Latido, Muze and Bisou hotels, adding more than 1,100 rooms to Da Nang’s hospitality market. The chain of hotels, built in the biggest entertainment-cum-hospitality complex CocoBay in Da Nang, aim to serve booming tourism in the city.
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http://www.colliers.com/en-gb/vietnam/about/media/2018-26-01-hotels-launched-in-da-nang