Local estate developers hunt for foreign capital

The Hoa Binh Construction and Real Estate Trade JSC signed a series of contracts with foreign investors and contractors in the first eight months of the year.

VietNamNet Bridge - As the domestic financial sources are limited, Vietnamese real estate developers tend to seek capital foreign capital and look for their opportunities by cooperating with foreign firms. In July 2013, the company signed a VND400 billion contract on undertaking a part of the SORA gardens I in Binh Duong City new city project. This is a package deal belonging to the Japanese invested Tokyu Binh Duong Garden City, which has the total investment capital of $1.2 billion. At the … [Read more...]

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“Mysterious” billionaire wants to invest in $27 billion oil refinery

The Saudi Arabian billionaire Thureign Augn, second from right.

VietNamNet Bridge - Mr. Thureign Augn was introduced by PTT Thailand as a Saudi prince, billionaire, and also a potential investor in the super-petrochemical project which was just kicked off in Nhon Hoi, Binh Dinh province. "After being proposed to participate in the Nhon Hoi oil refinery project of PTT, we have accepted and committed to support investment because we see the potential of the project from the input as well as the output of this petrochemical complex in the near future," … [Read more...]

$2bln-property owner has IP project scrapped


The developer of a mega-theme park has lost its license to develop an industrial park in the southern province of Tien Giang, according to local authorities. An artist's impression of the 212 ha Binh Dong Industrial Park, located in the southern province of Tien Giang, is seen in this image. Khang Thong Group has lost a license to build it because of tardy construction progress. Photo: http://www.khangthong.vn Vo Van Nam, chief of Tien Giang’s Industrial … [Read more...]

Mammoth amusement park projects just make-believe cake drawn on paper


VietNamNet Bridge – A lot of foreign investors arrived in Vietnam and contrived mammoth amusement park projects. Later, only when the investors left, did local authorities realize that the investors just promised the earth. One stone can kill two birds … [Read more...]

MJ’s dad withdraws from $2bn project in Vietnam


Joseph Jackson, father of late pop king Michael Jackson, has pulled out of a massive entertainment complex in Vietnam where he signed a deal to be involved in the construction of a major hotel last year. His withdrawal from the development of the hotel which is part of the Happy Land project, a Disneyland-inspired amusement park, was posted on his official website in January, and confirmed Wednesday by Phan Thi Phuong Thao, board chairwoman of its developer Khang Thong Group. … [Read more...]

Large entertainment complex constructed in Long An


An entertainment complex called Happy Land, similar to the famous amusement destinations in the world such as Disneyland and Universal Studio, has been constructed by Phu An Infrastructure Development and Construction JSC, a subsidiary of Khang Thong Group in a quite convenient position in Ben Luc District, Long An Province, only 20 minutes by car away from HCM City. Covering an area up to 338ha, the Happy Land will include theme park, large-scale commercial center, 3-5 star hotels, water … [Read more...]

Entertainment property key to tourism development


Like other property segments, entertainment property projects play an important role in the market as it, besides bringing profits for developers and offering services to communities, will support significantly to the development of the tourism industry. Thanks to having developed large-scale theme parks, some countries have become more popular in tourists' hearts and minds, attracting thousands of visitors every year. However, developing entertainment projects with support facilities … [Read more...]

Investors home in on Long An


Real estate is becoming attractive in southern Long An province thanks to its solid infrastructure, particularly for transport. Long An - illustration photo Travelling between Long An and Ho Chi Minh City, the country's economic hub, has become significantly easier and quicker with the development of many transport projects - some of them already complete - which has accelerated socio-economic development in the province. They include the Ho Chi Minh City-Trung Luong Expressway which … [Read more...]

Vietnamese returning from Libya not left in the cold


>> Last Vietnamese workers to return from Libya The Khang Thong Group is offering to recruit all 10,000 Vietnamese workers returning from Libya to work for its "Happy Land" project. Minister of Labour, Invalids and Social Affairs (MoLISA), Nguyen Thi Kim Ngan, said the company has pledged to provide guaranteed loans for the returning workers. … [Read more...]

Last workers from Libya already home


By 8 am this morning (Wednesday) the last group of 209 workers from Libya returned home safely. Flight VN 8686, carrying workers and Vice Foreign Minister Doan Xuan Hung from Tunisia, landed at NoiBaiInternationalAirport. The flight will be the tenth and last of the largest ever "air bridge" launched by the national flag carrier, Vietnam Airlines, to transport Vietnamese workers in Libya home. Those Vietnamese workers, accompanied by the governmental inter-branch working team in Tunisia , were … [Read more...]

$2 billion entertainment complex breaks ground


Khang Thong group Monday broke ground on the Happy Land entertainment complex, considered the biggest tourism project in Southeast Asia, in the presence of Joe Jackson, father of late pop king Michael Jackson, in Long An Province, south of Ho Chi Minh City. >> Michael Jackson’s dad in Vietnam on $2 bln deal Developed on a 338ha area in Ben Luc District, the US$2 billion project is to include a theme park that costs $600 million, a 3.7 km boardwalk, a shopping center, 3-5 … [Read more...]

Michael Jackson’s father invests in five-star hotel in Vietnam


VietNamNet Bridge - Joe Jackson, 82, the father of the King of Pop Michael Jackson, arrived in Vietnam February 11 to attend the ground-breaking ceremony of a five-star hotel project in the southern province of Long An. On February 12, he met with Phan Thi Phuong Thao, chairwoman of the Khang Thong Group in Ben Luc district, Long An province as an independent investor of the group's five-star Happyland hotel. … [Read more...]

Work begins on US$2 billion entertainment complex

Happy Land is planned to be developed within 39 months and launched on April 24, 2014. The entertainment complex will feature international hotels, shopping centres, international exhibitions and art amusements. It aims to draw 14 million tourists a year. Construction of Happy Land Entertainment Complex is scheduled to start on February 14 in the southern province of Long An with a total investment capital of US$2 billion. … [Read more...]

Michael Jackson’s dad in Vietnam on $2 bln deal


Joe Jackson, father of the king of pop music Michael Jackson, landed at Tan Son Nhat International Airport in Ho Chi Minh City at 23pm yesterday and is scheduled to sign a $2 bln tourism project. As an independent investor, he is set to be one of the signatories to a project to build a five-star, 1,000-room hotel covering 15 ha in large-scale Happy Land amusement park worth around US$2 billion located in Ben Luc District in southern province of Long An, 20 minutes away from Ho Chi Minh … [Read more...]

Work begins on 2bln USD entertainment complex

Construction of Happy Land Entertainment Complex is scheduled to start on February 14 in the southern province of Long An with a total investment capital of 2 billion USD. Happy Land is planned to be developed within 39 months and launched on April 24, 2014. The entertainment complex will feature international hotels, shopping centres, international exhibitions and art amusements. It aims to draw 14 million tourists a year./. … [Read more...]

Party leader urges Hanoi to lead healthy Tet


Party General Secretary Nguyen Phu Trong has called on the capital city of Hanoi to get rid of bad habits such as giving gifts to bosses, holding rampant festivals, and superstition during the Lunar New Year festival (Tet). Comrade Trong, who is also National Assembly Chairman, made this call while paying a Tet visit to the Hanoi administration and armed forces on February 1 or 29 th of lunar December, the last day but one of the outgoing Year of the Tiger. "The top priority now is to ensure … [Read more...]

Real estate firm teams up with Indonesian bank

HCM CITY (VNS)— Property developer Hoa Binh (HBC) and PT Nikko Securities Indonesia, a member of the Sumitomo Mitsui Banking Group, agreed on Tuesday that the Vietnamese real estate company would issued 10 million shares at VND20,681 (nearly US$1) to the Jakarta-based investment banking firm. The issuance is expected to be finished by Sunday. HBC shares lost 1.1 per cent to VND17,400 ($0.8) yesterday. — VNS … [Read more...]

HBC targets VND5 trillion in turnover

(VEN) - The Hoa Binh Construction & Real Estate Corporation (HBC) recently held its 2013 shareholders congress showing that the corporation turned over VND4,064 billion in 2012, a 4.2 percent increase from the projection for the year and a 33.1 percent increase on 2011. Its post-tax profit reached VND132 billion accounting for 77.6 percent of the year's target and 88.6 percent of that in 2011. The cash dividend rate stood at 10 percent. The HBC reaped success from developing the … [Read more...]

Nikko pours more than US$100 million in HBC


(VEN) - The Hoa Binh Construction & Real Estate Corporation (HBC) concluded a strategic partnership contract with PT. Nikko Securities Indonesia on March 26 in Ho Chi Minh City. HBC agreed to issue 10 million shares to Nikko Securities Indonesia for more than US$10 million. The issuance was scheduled for completion before March 31, 2013. Nikko's investment in HBC intends to improve HBC's operation efficiency and develop its combined strength in the domestic and regional markets. … [Read more...]


Sugar firms allowed exporting surplus inventory The Ministry of Industry and Trade has allowed domestic companies to export sugar with large volumes in an attempt to reduce the record high inventories of 450,000 tonnes. Since the beginning of the 2012-13 sugar crop, the Sugar and Sugar Cane Association has predicted that there would be a sugar surplus. Sugar is one of the country's price-stablised commodities, so its exports are only allowed when there is a surplus, according to Ha Huu Phai, … [Read more...]