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Real-estate developer finds foreign partners
The real estate firm Nam Long Investment Joint Stock Company plans to announce on Nov. 21 its two foreign strategic shareholders, Nam Viet and Aseana Properties.
The real estate investment fund Aseana Properties, which is listed on the London Stock Exchange and managed by Malaysia ’s real estate developer Ireka Group, has invested more than 18 million USD in Nam Long.
Nam Viet, which is owned by the financial investment institution Goldman Sachs, has injected 10 million USD as well.
The stakes of the two major shareholders of Nam Long, whose new charter capital stands at 271 billion VND (16 million USD), were not released.
However, Nam Long chairman Nguyen Xuan Quang disclosed that the Malaysian partner would participate in the executive board while the other partner will take part in the inspection board.
Aseana and Nam Viet will assist Nam Long in project development and financial management, respectively.
Aseana Properties will also contribute capital to Nam Long’s projects and provide project management. The two partners will consider the development of four residential and office projects in HCM City .
Established 16 years ago, Nam Long has completed various projects in HCM City including the 30ha Nam Long Housing, Tan Thuan Dong in District 7 and another 20ha residential area in District 9.
VNA
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