Thai developer to build middle income housing in Hai Phong

Thailand’s Preuksa Real Estate Plc. will set up a joint venture with a Vietnamese property developer to build housing for middle income buyers in Hai Phong, the Vietnam News Agency reported.

Preuksa Vietnam will have a registered capital of VND170 billion (US$9.94 million). Hai Phong-based Hoang Huy Group, which is also an automobile manufacturer, will hold 15 percent of shares in the joint venture.

The first project of the joint venture will be townhouses on a 10-hectare plot in Hai Phong, about 100 kilometers from Hanoi.

“We will use our products’ quality and design to attract Vietnamese homebuyers,” Bangkok Post quoted Preuksa CEO Thongma Vijitpongpun as saying.

Preuksa is Thailand’s second largest residential developer.

thanhnien

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