LDG Group Wants To Sell 85ha Project In Phu Quoc

LDG Group is looking for a partner to transfer the entire 85-hectare Grand World resort and resort project in Phu Quoc.

On December 14th, the Board of Directors of LDG Investment Group – LDG Group approved the resolution on seeking partners to implement the project of resort and luxury resort Grand World Phu National.

Accordingly, LDG Group will seek partners to cooperate, transfer part or whole project resort and luxury resort Grand World in Phu Quoc.

Explaining this, Mr. Nguyen Cao Cuong, General Director of LGD Group said that the strategy of the company is to find companies with the strong financial potential to jointly exploit and manage projects to bring profit big later.

Grand Word project in Phu Quoc

Under the plan of LDG Group, if there are investors wanting to buy back the project, bringing a large profit compared to the initial investment capital, the company will immediately sell the entire project.

Grand World is a resort project is being built in Bai Dai, Phu Quoc with a scale of 85ha. The project was started construction in August 2014 and has a total investment of more than 4.600 billion.

Grand World consists of 4 villas with a total of 447 units, 104 bungalows are designed in ecological form. Residential 7-star hotel with 7 floors with 496 units. In the first phase, LDG Group has built 178 villas in two lakes.

Previously, LDG Board of Directors also passed a resolution on borrowing bank loans to implement the resort project and Grand World luxury resort in phase I.

illustration

You can read more information at Vietnam Real Estate Market

Accordingly, LDG Group will borrow VND1,760 billion at Vietinbank Kien Giang Branch. Of which, VND 700 billion of medium and long-term loans and VND 1.060 billion of capital guaranteed to guarantee repayment obligations to the buyer or the lessee in case the investor does not hand over the house in accordance with the schedule contract with the customer.

In 2016, LDG Group plans to reach VND455 billion in net sales and VND154 billion in consolidated net profit. In particular, revenue comes mainly from Grand World and two other projects in Dong Nai, namely The Viva City, Sakura Valley.

LDG Group is the predecessor of Long Dien Real Estate Joint Stock Company, which was established in 2010 in Dong Nai.

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