After many times selling information on the project River City, recently Phat Dat Real Estate Development Corporation (PDR) has approved the policy of transferring part or whole project of high-rise residential area The EverRich 2 The EverRich 3.
Specifically, Phat Dat Real Estate Development Joint Stock Company has just approved the transfer of part or whole of The EverRich 2 project (Phu Thuan ward, district 7) and The EverRich 3 project (Tan Phu ward, District 7) for investors to pay for bonds, debt of PDR and related companies and individuals arising at DongA Bank.
The transfer of part or all of The EverRich 2 and The EverRich 3 projects will be reported to the General Meeting of Shareholders for approval at the latest meeting no later than April 2018.
The transfer of these two projects will be used to repay DongA Bank. Specifically, Phat Dat Company’s Board of Directors affirmed that it would pay the outstanding principal of DongA Bank bonds before December 31, 2017 and the interest rate will be applied on June 30 th, 2018.
Prior to that, in March 1974, leader Phat Dat had denied that he would sell the River City project. At the same time, to pause sales in this project to adjust the planning. After adjusting, the project will launch 1,500 apartments in 2017, earning VND1 trillion to repay debts to Dong A Bank.
The River City project, formerly known as The EverRich 2 by Phat Dat, has been handed over to investors after many years of “transfer”. Phat Dat is holding 50% of the shares, An Gia Investment and Creed Group holds 50%.
At that time, there was also news that Phat Dat had received some money from Van Thinh Phat to pay for the customers. And the announcement of River City’s M & A deal is just waiting for time because of some problems and complaints from customers.
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