Vietnam consortium plans 4 major real estate developments

Thursday, 07:43, 15/09/2016

VOV.VN - A consortium led by Ho Chi Minh City based Truman Holdings has unveiled plans to develop four luxury residential, hotel and retail complexes at locations across Vietnam over the next four years.

At a ceremony on September 14 in Thai Binh, Truman Holdings and three other companies revealed plans for the developments to be located in the four major cities of Danang, Binh Thuan, HCM City and Thai Binh.

The three other players in the project are Licogi Corporation JSC, who will serve as the construction manager for the projects, and BIDV Bank and HD Bank will provide financial backing.

Details of precisely how the total estimated funds of US$27 billion will be raised were not disclosed in full, but typically construction of this nature is entirely dependent on the ability of the consortium to raise the needed equity capital through future IPOs.

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