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Sunday,  Oct 22,2017,04:30 (GMT+7)

Anpha Holdings takes over Nova Galaxy

Hung Le
Tuesday,  Aug 8,2017,23:07 (GMT+7)
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Anpha Holdings takes over Nova Galaxy

Hung Le

Galaxy 9 complex on Nguyen Khoai Street in District 4 will be operated by Anpha Holdings - PHOTO: QUOC HUNG

CMC - Anpha Holdings, a Vietnamese real estate development firm, announced on August 7 it had bought a 99.98% stake at Nova Galaxy, a real estate arm of Novaland Group.

Anpha Holdings finalized the acquisition last week but the value of the deal is unknown.

Nova Galaxy was founded in 2010 with total chartered capital of VND500 billion. According to Novaland’s prospectus, Nova Galaxy is the owner of Galaxy 9 project, a residential and shopping complex which covers 6,288 square meters in District 4, HCMC, and has total floor space of 51,600 square meters.

According to Anpha Holdings, the handover of homes is complete and residents have got home ownership certificates at Galaxy 9. The 520-apartment tower has swimming pool, gym and yoga center, park and shopping mall.

Novaland Group did not give a reason for its withdrawal from the project. In the first half of this year, Novaland posted VND3.3 trillion in net revenue and VND841 million in net profit, down by 33% and 45% year-on-year, respectively.

Anpha Holdings is expanding in the real estate market in Southeast Asia, with many projects developed in Singapore and Malaysia.

Anpha Holdings also plans to cooperate with Malaysia’s Villamas Sdn Bhd Group to develop a high-class complex in Kuala Lumpur. The SK Development complex will have three towers, 1,772 apartments, seven floors for retail, 13 floors of office space, and one five-star hotel which would be managed by Starwood Hotels & Resorts Group.

Work will begin on the project this quarter and it is expected to be ready in early 2023. The construction cost is put at US$320 million, excluding land.

In Vietnam, Anpha Holdings is going to launch its SimCity Premier Homes complex, a smart city in District 9, HCMC. The project will provide startups with necessary facilities at the Startup Incubation MegaCenter in the SimCity Premier Homes.

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