Indochina Plaza Sold to Hong Kong Firm.
Recently, Vietnam’s leading property developer and fund manager Indochina Land has sold Indochina Plaza to Hong Kong’s investment fund Gaw Capital Partners.
Reported by Indochina Land, four of its investment projects, consisting of Indochina Plaza in Hanoi, Hyatt Regency in Danang and two projects in Ho Chi Minh City and Quang Nam have been transferred to foreign investment fund. Indochina Plaza Sold to Hong Kong Firm.
Accordingly, Gaw Capital Partners will retain Indochina Land to provide ongoing asset management services as a transitional period before it totally takes over the projects.
Located on Xuan Thuy Street, Cau Giay District, Indochina Plaza is designed with one 16-floor office building and two 32-to-36-floor apartment buildings. Hyatt Regency is a famous resort nearby Danang beach with 174 high-class apartments, 27 villas and a 5-star hotel. These two projects are in operation.
At the press meeting, Indochina Capital’s CEO Peter Ryder said: “For property fund management business, the right exit strategies are as important as investment ones. Indochina Capital is proud to have developed Indochina Plaza and Hyatt Regence and other award-winning properties throughout the country.” Indochina Plaza Sold to Hong Kong Firm.
Michael Piro, CEO of Indochina Land believed that its professional team would help Gaw Capital Partners during a transitional period. He also confirmed that the transfer of Indochina Plaza and Hyatt Regency would not affect the contracts and agreements between the investor and owners of villas and apartments at these projects.
Also at the meeting, Indochina Land remained positive about the domestic property market thanks to growing urbanization, large population, steady regulatory liberalization process and favourable demographics. Indochina Plaza Sold to Hong Kong Firm.
Despite increasing fierce competition is fierce in segments of medium and affordable housing, the upper market presents valuable opportunities for many developers who possess the ability to develop differentiated. Indochina Plaza Sold to Hong Kong Firm.
(Source: Vietnamnet)
