Van Thinh Phat Group Will Buy River City Project?

More information that Van Thinh Phat Group is negotiating to buy River City project, but the joint venture project development has denied this.

The River City project is located at Dao Tri street, District 7. Previously, this project was named The EverRich 2 by Phat Dat Real Estate Development JSC. After many years of being covered, An Gia Investment and Japanese Creed Investment Fund joined in and restarted the project. At present, Phat Dat Company holds 50% of the shares, while An Gia and Creed Group holds 50%.

On March 19, An Gia Investment suddenly postponed the sale of block The Marina of the River City project, many sources said Van Thinh Phat is negotiating and want to buy the project. However, Analyst Investment has denied this.

Mr. Luong Sy Khoa, Deputy General Director of An Gia Investment, said that the postponement of the opening of block The Marina instead of scheduled on March 19 is due to the company is conducting periodic inspections of enterprises. After the inspection is over, the company will re-organize the program to open normal sales.

The Everich 2’s owner before and now is River City. Will it once again change the owner?

Regarding the information, the reason for delaying the sale is that Van Thinh Phat announced the acquisition of the entire River City project, Khoa said that this is not official information from the business and refused to confirm whether or not to work. Van Thinh Phat is negotiating to buy River City.

Nguyen Van Dat, Chairman of the Board and General Director of Phat Dat Real Estate Development Joint Stock Company, said that Van Thinh Phat was not acquired by River City. At present, the company is completing legal procedures to reduce the number of apartments.

>>>See more information about the real estate law here: Vietnam real estate law

River City is built on a land area of 112,585sqm, a scale of 8,000 apartments with 99 utilities for the first time in Vietnam such as the man-made island, two-floor waterfall pool, water square and light, street flowers walking on the air …

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