A Vietnamese shop in the Czech Republic. (Photo: VNA)

Prague (VNA) – The Czech economic magazine E15 has published an article on thriving Vietnamese expatriates’ real estate involvement on its front page.

According to the article, a group of Vietnamese businessmen in the Czech Republic bought a large building dating back to the 17 th century on historical Mala Strana Street. The former owner is Martin Nuhlicka, who is also co-owner of Hamé, a popular local food company. This is the first time such an investment has been made by Vietnamese investors.

The article quoted Michael Hynst, an expert at Svoboda & Williams real estate office, as saying there are Vietnamese banks working in the Czech Republic alongside an increasing number of wealthy Vietnamese expatriates having permanent residency in the European country. This leads to expectations for a property investment boom by the group, he noted.

Another example included in the article was the case of Le Hoang – owner of LHDI Company – who is investing in expanding Yasmin hotel, which lies in Prague’s central district.

In the retail sector – the traditional market for Vietnamese expatriates in the country – Vegan Land, a Vietnamese-owned vegetarian restaurant and store, recently opened inside the Fenix shopping mall.

Currently, the number of Vietnamese living in the Czech Republic is estimated at 65,000.-VNA