Ho Chi Minh City: Approved Ngoc Vien Dong To Invest In Nha Rong-Khanh Hoi Complex

Accordingly, the project site at Nha Rong – Khanh Hoi port is located in Ward 12, 13 and 18 of District 4 with a total land area of 31.5 ha.

Investment projects of mixed-use high-rises include trade centers and services (3,116 units), villas (32 units), kindergartens, primary schools, junior secondary schools, health clinics and Technical infrastructure detailed planning 1/500 scale sub-zone Port in District 4.

See more: Vietnam Real Estate Investments

Perspective Nha Rong-Khanh Hoi Complex

It is known that Ngoc Vien Dong Urban Development Investment Co., Ltd was originally established by Saigon Port Joint Stock Company in cooperation with Vingroup Corporation to invest in Nha Rong – Khanh Hoi Complex. In particular, Saigon Port contributed VND 300 billion, holding 26% of charter capital. Later, when the project of Nha Rong – Khanh Hoi complex was set up with a total investment of up to VND 17,000 billion, the chartered capital of Ngoc Vien Dong would be equivalent to  VND 5,000 billion. Therefore, Ngoc Vien Dong suggested Sai Gon Port contribute VND 1,100 billion to maintain the 26% ownership ratio.

However, with the difficult financial situation, Sai Gon Port decided to apply for the Ministry of Transport’s policy and approved the Prime Minister’s approval for divestment.

There is no official information about the divestment of Saigon Port to Vingroup or other enterprises.

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