The developer of PetroVietnam Landmark project owner will change

The Board of Directors of PetroVietnam Real Estate Joint Stock Company (PVPower Land) has submitted a plan to change the name of the company into Vietnam Real Estate Investment Joint Stock Company (VPRO) and change its superiors.

This is a “petroleum” business and the PetroVietnam Landmark project is the longest and most painful one in the real estate market in HCMC.

The reason for renaming is to provide PVPower Land to facilitate the process of connecting with partners, customers when the transaction and business development of the company in the new period. The name change, according to the PVPower Land Board, will also facilitate the search for investment opportunities, expand the market in the direction of sustainable development.

The developer of PetroVietnam Landmark project owner will change

The developer of PetroVietnam Landmark project owner will change

Besides changing the name, this unit also has a change of head office from Nam Tu Liem district to Thanh Xuan district (Hanoi). PVPower Land is a member of Petrovietnam Electricity Corporation (PVN) belonging to Vietnam National Oil and Gas Group (PVN).

The main activity of PVPower Land is real estate business. This company is the owner of many projects in Hanoi and Ho Chi Minh City such as Nam Dan Plaza, Quỳnh Lưu Plaza, PetroVietnam Landmark, Linh Tay Apartment – Thu Duc …

In HCM City, PetroVietnam Landmark project due to slow burdens handed over to guests 6-7 this year.The investor has signs of losing financial ability to continue to deploy. Therefore, customers buying a home in this project repeatedly filed a lawsuit. People’s Court of Ho Chi Minh City has issued a decision to open bankruptcy procedures for investors of this project.

Also at the extraordinary shareholders’ meeting, the Board of Directors of PVPower Land also presented the dismissal of the Board Member cum General Director with Mr. Dinh Ngoc Binh.

Mr. Dinh Ngoc Binh has resigned from CEO position of PVPower Land since October 13. The Board of Directors met and voted to dismiss Mr. Dinh Ngoc Binh from October 16th.

Mr. Binh was also dismissed from the position of Board Member. Mr. Dinh Ngoc Binh is the General Director of PVPower Land, Mr. Nguyen Van Dung, Member of BOD.

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