HanHomes Giang Bien project in Long Bien district of Hanoi (Photo: VNA) Vina Dai Phuoc Corporation, the investor of the SwanBay Dai Phuoc project,recently announced changes in its business registration. Of which, twoforeign shareholders holding 92 percent of the company’s stakes, which are SNCInvestments 27 and SNC Investments 28, are no longer on the list ofshareholders.
SNC Investments 27 and SNC Investments 28 are subsidiaries of China FortuneLand Development (CFLD), a Chinese industrial real estate developmentgroup.
The fact that CFLD is no longer a shareholder shows that the super project on Dai Phuoc island has changed hands. According to some sources, the project nowbelongs to a large Vietnamese real estate enterprise.
SwanBay has a scale of 200 hectares, located on Ong Con island in Nhon Trach district,Dong Nai.
The project was formerly known as Dai Phuoc Lotus Urban Area, owned by a jointventure between Construction Development Investment Corporation (DIC) andVinaCapital Group. It was approved in 2005, then put on hold for a long time.By 2017, after completing two villas, VinaCapital ceded all the undevelopedland and some items to CFLD.
The real estate market were active since the beginning of the year with manyother M&A deals.
At the end of January, Viva Land Investment and Development JSC officially ownsthe Capital Place building, which previously belonged to CapitaLandVietnam, through its affiliates. The deal value disclosed by CapitaLand Groupis up to 550 million USD.
Capital Place is known as a grade A office project, located in the heart of Ba Dinhdistrict, Hanoi, providing nearly 100,000 m2 of office and retail space. At theend of 2021, Viva Land also became famous in the realty market after revivingthe Saigon One Tower project that had been idle for many years at a goldenlocation in District 1, HCM City. The project was later renamed IFC One Saigon.
Recently, Keppel Land Group signed a binding contract with Phu Long Real Estateto buy 49 percent of shares in three land plots in Mailand Hanoi City, Bac AnKhanh Urban Area, with a total value of over 2.7 trillion VND.
The three land plots have a total area of 14.2 ha, includingtwo areas planned for low-rise housing development and one area for high-riseapartment buildings.
The transaction is expected to be carried out in the third quarter of2022.
The difference leading to the success of these deals is the post-M&Astrategy.
After most deals are done, buyers quickly revive these on-hold projects,helping to increase supply and liquidity.
At the end of February, Novaland Group and Tài Nguyên Investment andDevelopment United Corporation held a ceremony to start the Grand SentosaProject in Phuoc Kien commune, Nha Be district, HCM City after construction hadbeen suspended for a number of years.
The project is planned as a commercial and service complex and high-classhousing area, with a total area of more than 8.3 hectares. It is expected toprovide more than 2,000 apartments and commercial townhouses to the market.
Notably, it took less than a week from the time Novaland announcedthe M&A deal to the official start of construction.
Saigon Binh An Urban Area in An Phu ward, Thu Duc city is another projectthat was also quickly kicked off after being handed over to the new owner,Masterise Homes, in early January 2022.
Clearly, due to uncertainties during the pandemic over the past year, investorstend to look for M&A projects that can be implemented in the short andmedium-term.
Although the speed of reviving projects depends on many factors, one thing incommon is that all buyers accelerate the completion of projects immediatelyafter being acquired, promising to bring good quality products to the market in2022, especially in HCM City where has been in short of supply for manyyears./.
VNA
