Australian investor joins Trung Son Plaza project
26-09-2012
 Justin Hau (L), director of Phuc Hau Tu Hai Co., shakes hands with Phung Van Nang, general director of Nam Viet Real Estate JSC, at the agreement signing ceremony held at the Sheraton Saigon Hotel on Monday - Photo: Dinh Dung |
Under the agreement, Phuc Hau Tu Hai will contribute capital to the Trung Son Plaza project, which costs a total of VND1.32 trillion.
The project consists of seven blocks with 960 apartments. Two blocks are being finalized and the others are under footing construction.
Phuc Hau Tu Hai will contribute 50% of the land price, worth VND400 billion or some US$20 million. The two parties will execute the cooperation contract in November.
Justin Hau, director of Phuc Hau Tu Hai, said this is good opportunity for his company to join hands with Nam Viet Company, an affiliate of Thao Loan Construction Investment Trading Housing Co. Ltd., to enhance the chances for property trading.
Apart from Lakeway Group of Australia that has joined the investment, Phuc Hau Tu Hai will welcome participation of an Australian investment fund in the coming time, said the director.
Earlier, Nam Viet and Phuc Hau Tu Hai have cooperated in trading the project Lucky Apartment in Tan Phu District.
At the signing ceremony on Monday, Nam Viet also signed a contract with Quang Thanh Company on consultancy, marketing and distribution of the Phuoc Loi residential project in Nha Trang City.
