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Saturday, November 26, 2022

Billionaire Pham Nhat Vuong establishes real estate company

By Van Phong

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HCMC – Billionaire Pham Nhat Vuong, chairman of Vingroup under the code VIC, has announced the establishment of VMI Real Estate Investment and Management Company, or VMI JSC, in which Vuong owns a 90% stake or VND16.2 trillion.

Vuong contributed over 243 million VIC shares to the new company with its chartered capital of VND18 trillion.

The establishment of the company, of which Vinhomes, the local conglomerate Vingroup’s property arm, is another shareholder, is aimed at supporting investors with limited capital, giving them opportunities to invest in property projects and jointly developing a secondary market to raise liquidity and the value of Vinhomes properties.

Specifically, VMI JSC will invest in certain properties that are available or set aside for Vinhomes’ future plan and then divide the value of the properties into 50 parts, enabling its customers to invest in each of these parts through a business cooperation contract.

VMI JSC’s partners will be authorized for asset rights and enjoy profits from the asset rights equivalent to their investment ratios.

During their cooperation period, VMI JSC will offer cooperation and investment policies to make them suitable and flexible for the market and ensure investors benefit from the partnership.

Besides, to facilitate its partners’ investment operations, the company will also build an online real estate information platform. The platform is expected to help investors easily search for investment information and partners, exchange experience and information with each other and give them free consulting services.

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