Business

Construction group HUD Holdings makes debut

The Vietnam Housing and Urban Development Holdings Group (HUD Holdings) made its debut in Hanoi on March 24.
The Vietnam Housing and Urban Development Holdings Group (HUD Holdings) made its debut in Hanoi on March 24.

The group is made up of five construction businesses, namely theHousing and Urban Development Corp, the Hanoi Construction Corporation(Hancorp), the Vietnam Building Glass and Ceramics Corp (Viglacera),the Bach Dang Construction Corp, and the Vietnam Water Supply Sewerageand Environment Construction Investment Corp (Viwaseen).

The group will play an important role in directing the country’s urbanand housing development strategy, helping stabilise and regulate thereal estate market.

HUD Holdings is expected to achieve its strategic goal of building 8-10 million sq.m. of residential housing through 2015.

Addressing the debut ceremony, Construction Minister Nguyen Hong Quanstressed that the group needs to build a development model inaccordance with the demands of the current reality in order to buildthe capacity of its members in all aspects.

This is a foundation for HUD Holdings to carry out large-scale projects in and outside the country, Minister Quan said.

HUD Holdings General Director Nguyen Dang Nam took this opportunity topresent 5 billion VND in support of the Fund for the Poor./.
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