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Tiếng ViệtIn recent days, real estate investors nationwide have been abuzz with the news that Viva Land is the manager of the IFC One Saigon project – a high-rise commercial building including offices, apartments, serviced apartments and podiums. retail, with a total floor area of 123.000 m2.
Viva Land grew quickly through M&A
The luxury real estate market has recently been buzzing about the restarted IFC One Saigon project with the selling price of luxury apartments reaching up to VND XNX billion/m2, creating a new peak of super luxury products in Vietnam.
Not only that, a series of projects for the upper class are also being built with high selling prices such as Pearl (formerly One Central – Ritz Carlton Saigon) about 700 million/m2, Grand Marina Saigon Priced at up to 400 million VND/m2, The Grand Hang Bai offers 550-700 million VND/m2.
These signals show that luxury real estate in the inner city is vibrant again, mainly thanks to the appearance of new players with rich financial potential, Viva Land and Materise Group.
In addition to IFC One Saigon, this emerging giant in the real estate sector also manages a series of projects with prime locations in Hanoi and Ho Chi Minh City. Including a land area of nearly 8.600 m2 right on 4 fronts of Pham Ngu Lao – Pho Duc Chinh – Le Thi Hong Gam – Calmette. And recently a project Thao Dien villa name is, has a name which is Diamante Thao Dien
In early 2022, Viva Land in Singapore spent 550 million USD (nearly 12.500 billion VND) to buy the international Grade A office building Capital Place in Hanoi with 2 37-storey office towers from CapitaLand.
This enterprise also announced that it will become the developer and operator of land plots 32 and 3b of the Tuan Chau Island project (Ha Long City, Quang Ninh) invested by Tuan Chau Group.
According to the official announcement on the company website, this enterprise currently manages a land fund of up to 1.500 hectares with a total value of billions of dollars and is present in both of the country’s largest cities, Hanoi and Ho Chi Minh City. This real estate giant also said it provides over 18.000 apartments.
Who is Vivaland?
Information from the national information portal on business registration shows that Viva Land was formerly known as Viva Management Joint Stock Company, established on December 8, 12 with a charter capital of only 2020 billion VND.
Founding shareholders include Mr. Ta Cong Tri, who contributed 39,3 billion VND, equivalent to 49% of capital contribution, Ms. Le Thi Dieu, who contributed 24 billion VND, or 30%, and Ms. Duong Hoang My Linh, who contributed 21% of charter capital. equivalent to contributed capital of 16,8 billion VND. Among them, Ms. Le Thi Dieu is the General Director and legal representative.
By July 7, 7, the business changed its current name to Viva Land Management & Development Joint Stock Company (VN), and at the same time changed its General Director and legal representative to Mr. Lim Boon Hwee (Eddie Lim).
According to the introduction on the website, General Director of Viva Land, Eddie Lim worked for CapitaLand for 25 years in Singapore, Vietnam, China, Japan, Thailand, Malaysia.. Chairman of the Board of Directors Chen Lian Pang has 40 years of experience in real estate investment and development in Asia, having led the CapitaLand team to develop many typical projects in the region.
Most recently, on August 16, a foreign shareholder, Viva Land Management NT Group (headquartered at Robinson Point building, Singapore), participated, holding 8% of the shares, equivalent to a capital contribution of 49 billion VND. while the proportions of other shareholders are not announced.
According to information from the National Register of Secured Transactions – Ministry of Justice, Viva Land does not have any secured transactions with financial institutions in Vietnam.
Along with that, information from the national business registration portal also shows that Mr. Eddie Lim, General Director and legal representative of Viva Land is also the General Director and legal representative of Viva Land. Law of Viva Land Investment and Development Joint Stock Company.
Viva Land Investment and Development Joint Stock Company was established in May 5 with the predecessor of Cirius Power Joint Stock Company, charter capital of VND 2019 billion.
Regarding the shareholder structure at the time Cirius Power was established, Ms. Nguyen Thi Kim Khanh holds the largest proportion with 30% of charter capital, equivalent to a contributed capital of 600 billion VND. Ms. Nguyen Thi Ngoc Mai contributed 500 billion VND, equivalent to owning 25% of charter capital and Ms. Duong Thi Hanh owned 20% of charter capital with a contributed capital of 400 billion VND, the remaining capital contribution of the enterprise was not recognized. dad. Among them, Ms. Nguyen Thi Kim Khanh takes on the role of General Director of the enterprise.
By February 2, Cirius Power changed its name to Viva Land Investment and Development Company. By December 2020, Mr. Lim Boon Hwee replaced the position of General Director and was the legal representative of Ms. Nguyen Thi Kim Khanh’s business.
“Examine” Viva Land’s development capacity
Reviving a building that has been dormant for a decade is not an easy task, so currently, all attention is focused on the name Viva Land.
Established in 2020, Viva Land Management and Development Joint Stock Company (Vietnam) is a member company of Viva Land Management Group (Singapore). Although it is still quite young compared to other names in the industry, this enterprise is trusted as a manager and developer of many large projects with a total area of more than 1.500 hectares across the country.
In particular, talking about the current position of Viva Land, it is impossible not to mention the leader, Mr. Chen Liang Pang – Chairman of the Board of Directors, a familiar name in the real estate industry. Mr. Chen has more than 40 years of experience in real estate investment and development in Asia. With his team, Mr. Chen has made his mark with the development of a series of large projects such as Capital Tower (Singapore), Raffles City (China), Capital Place (Hanoi)…
Introduced above Vivaland website, the IFC One Saigon project has 45 floors, 185m high and a floor area of about 123.000 m². This will be a complex project with offices, apartments, serviced apartments and retail trade centers.
It is expected that by the end of this year, this entire project will have its exterior completed. At the same time, the old concrete, interior and mechanical and electrical items will also be completely renovated.
According to Viva Land, construction work is currently being accelerated and there are absolutely no business activities taking place at the present time. Information such as the number of apartments, area, and selling price have not been announced by the investor.
