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Vingroup Acquires Thang Long Real Estate Company

With the acquisition of an additional 1.4 million shares, Vingroup Group raised its equity stake in Thang Long Real Estate Investment JSC to 62%.

Vingroup has successfully acquired 1.4 million shares, equivalent to 28% of the chartered capital of Thang Long Real Estate Investment Joint Stock Company. With the acquisition of 1.4 million shares, Vingroup has raised its ownership interest to 62% of the chartered capital of Thang Long Real Estate Company.

Thang Long Investment Real Estate Trading Joint Stock Company is headquartered in Hanoi. This company has built and successfully brokerage projects such as City View, CT5C Van Khe apartment, Pham Tuan Tai apartment building, Cons Strexim apartment building, Usilk – City apartment building.

Vingroup acquires Thang Long Real Estate Company
The land in Me Tri that Vingroup acquired due to the acquisition of 67.17% of the charter capital of Me Tri Sports Development and Entertainment Corporation

Earlier, Vingroup also spent VND4,800 billion to buy nearly 35% of the capital of Can Gio Tourist Joint Stock Company. The company has a chartered capital of VND525.7 billion and is the owner of Saigon Sunbay Tourist Area, built in Long Hoa Commune, Can Gio district.

As such, the majority of shareholders of Can Gio Tourist Joint Stock Company are individuals. Specifically, Pham Thu Thuy, Ngo Phuong Hanh, Ho Chau Giang, Hoang Quoc Lam, Nguyen Dac Vinh …

Prior to that, Mr. Dang Thanh Tam and two groups of state shareholders, Saigon Tourist and HCM City Party Committee, withdrew capital from Can Gio Tourist Joint Stock Company.

With the acquisition of nearly 35% stake in Can Gio Tourist Joint Stock Company, Vingroup will be the strategic partner for the Can Gio urban area project. In the short term, Vingroup plans to deploy an area of 821ha. An extension of 300ha on the sea surface will be further considered after the first stage.

In the north, Vingroup also conducted a series of acquisitions. Typically, Vingroup bought 80% of shares of Giang Vo Exhibition Center with the amount of 1.5 trillion.

Vingroup acquires Thang Long Real Estate Company
Vingroup will own 67.17% of the charter capital of Me Tri Sports and Recreation Development Joint Stock Company.

Similarly, Vingroup also completed the transfer of 56.02 million shares, equivalent to the par value of VND560.2 billion and accounted for 67.17% of the charter capital of Me Tri Sports Development and Entertainment Corporation.

***See more information about the real estate report here: Vietnam real estate report

Therefore, Vingroup will own 67.17% of the charter capital of Me Tri Sports and Recreation Development Joint Stock Company. The company was assigned to develop the project on a 32.1ha site in Me Tri.

The land is located right next to the National Convention Center. In the North, it borders on Thang Long Avenue. The Northeast borders on the planned road and the Viglacera building. In the Southeast, it borders on the new lake and new urban area of Phung Khoang. It borders Luong The Vinh to the South West.

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Vingroup Acquires Thang Long Real Estate Company
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