Plans to provide up to USD 200 million for social housing, industrial parks and other real estate development programs in Vietnam
New York, July 14, 2020 (GLOBE NEWSWIRE) — PHILUX Capital Advisors, Inc., a wholly-owned subsidiary of PHI Group, Inc. (www.phiglobal.com, PHIL), announced today that it has signed a Memorandum of Understanding with Hoang Quan Group (http://hoangquan.com.vn/en/main.html), (Stock code: HQC on HOSE VN, https://www.hsx.vn/Modules/Listed/Web/SymbolView/280), a Vietnam-based conglomerate engaged in finance, real estate and education, for comprehensive cooperation in the areas of funding, real estate, and other investment opportunities in Vietnam.
According to the MOU, PHILUX Capital plans to provide up to USD 200 million (equivalent to VND 4,600 billion) to support multiple social housing projects and other real estate development programs. This could include industrial zones, ports and tourist resorts that Hoang Quan Group currently manages or is developing. In addition, PHILUX Capital will also advise and assist Hoang Quan Group in a comprehensive restructuring effort to access international capital markets and list their securities on US or other major foreign stock exchanges.
Hoang Quan Group is one of the largest and most reputable corporations in real estate investment and development in Vietnam. Established in 2000 and leveraging 20 years’ experience of operation and development with 30 member companies, Hoang Quan Group is proud of its pioneering role in creating an integrated business ecosystem covering investment, legal services, design, construction, appraisal to marketing, product distribution, project management and building management.
With its core strength in real estate, education and finance and highly focused approach, Hoang Quan Group has become a leading investor and developer of real estate in Vietnam. The company has a diversified portfolio of products in industrial parks, real estate, social housing and affordable and commercial housing in prime locations in Ho Chi Minh City and other locations. Hoang Quan is a pioneer and leading brand in social housing and housing for workers in Vietnam with 22 successful social housing projects, providing the market with more than 7,000 products. A number of products and industrial park projects have attracted both domestic and foreign investors.
After 20 years of operation, with equity capital of USD 500 million, Hoang Quan Group has developed an ecosystem of 30 member companies. Its headquarter is located at 286-288 Huynh Van Banh Street, Ward 11, Phu District Nhuan, Ho Chi Minh City. Representative offices are located in 12 provinces and 17 branches and transaction centers in Vietnam. As a leading real estate, education and finance group in Vietnam, Hoang Quan Group has been recognized as one of the 500 largest enterprises in Vietnam…