VinaCapital Group, an asset management and real estate development firm, announced on March 2 that it had set up a 50/50 joint-venture company with inProjects Group, which provides real estate services.
The Hong Kong-headquartered inProjects Group is an independent project management company.
The new JV, VinaProjects, specialises in construction and project management, urban planning and facilities management, according to managing director Paul James.
Initially the company will provide its services to VinaCapital's projects and will then expand its businesses to other companies in the Vietnamese market.
"The Vietnamese market has enormous potential for growth and this joint-venture will offer both partners the ability to maximise these opportunities," said Matt Fletcher, managing director for in Projects Group. The JV company will manage projects worth more than 500 million USD.
They include the 39 million USD Dai Phuoc Lotus, which by 2011's end will c0omplete 332 villas on 22ha of land in southern Dong Nai province, the 35 million USD World Trade Center Project, which will be completed in Nov 2011 and the 55 million USD Danang Beach Resort, both in central Da Nang city.
It will also be appointed as the project and construction manager for the 115 million USD Hanoi-based Times Square complex, with the first phase to put in use in early 2013./.
The Hong Kong-headquartered inProjects Group is an independent project management company.
The new JV, VinaProjects, specialises in construction and project management, urban planning and facilities management, according to managing director Paul James.
Initially the company will provide its services to VinaCapital's projects and will then expand its businesses to other companies in the Vietnamese market.
"The Vietnamese market has enormous potential for growth and this joint-venture will offer both partners the ability to maximise these opportunities," said Matt Fletcher, managing director for in Projects Group. The JV company will manage projects worth more than 500 million USD.
They include the 39 million USD Dai Phuoc Lotus, which by 2011's end will c0omplete 332 villas on 22ha of land in southern Dong Nai province, the 35 million USD World Trade Center Project, which will be completed in Nov 2011 and the 55 million USD Danang Beach Resort, both in central Da Nang city.
It will also be appointed as the project and construction manager for the 115 million USD Hanoi-based Times Square complex, with the first phase to put in use in early 2013./.
