Vietnam’s real estate group Hoang Anh Gia Lai is divesting from one of the biggest property projects in Myanmar, saying it wants to focus more on agricultural investments. The group has sold a 50 percent stake in a member company that is developing the US$550 Myanmar Center to Rowsley, a real estate and consultancy firm partly owned by Singapore billionaire Peter Lim. Vo Truong Son, a spokesperson of Hoang Anh Gia Lai, was quoted by local media as saying that the deal has relieved the group of some financial pressure. He said it will invest part of the new $275 million into its cow farms. Another part will be used to pay debts and for its palm oil projects. The group plans to raise its current herd of 30,000 cows to 200,000. Financial statements from the group showed that sugarcane was its biggest earner last year, contributing around 34 percent to its total revenue of VND3 trillion. Property development only made up 25 percent. The Myanmar project, which is scheduled to open … [Read more...] about Vietnam’s Hoang Anh Gia Lai divests from Myanmar property project to focus on farming
Hoang anh gia lai hotel
Hoang Anh Gia Lai Group Gets Approval for US$16.2-Mln Hospital
Hoang Anh Gia Lai Group has received the green light from the People's Committee of Central Highlands Gia Lai province to build a VND260 billion (US$16.25 million) hospital in the province, the local Youth newspaper said Thursday. The Hoang Anh Gia Lai Hospital, the first private project in the province, will include 200 modern sick-beds. It will be located in Le Duan Street, Pleiku city. The hospital project in Gia Lai marks a new investment area of the property developer which is now developing more than 20 luxury apartment projects in big cities. It also owns hotels and resorts, five furniture and granite processing plants, 20,000 hectares rubber in southern provinces and Laos, two iron ores and one brass ore. The group earned pretax profit of VND870 billion (US$54.4 million) in 2007, higher than the expected level of VND804 billion. (Youth) … [Read more...] about Hoang Anh Gia Lai Group Gets Approval for US$16.2-Mln Hospital
Hoang Anh Gia Lai dominates real estate market in Myanmar
VietNamNet Bridge - The $300 million estate project of Hoang Anh Gia Lai (HAGL) Group in Yangon has broken the four-pillar position of the investors of Singapore, Thailand, Japan and Hong Kong in the tourism and commerce real estate market in Myanmar. According to the Ministry of Hotels and Tourism of Myanmar, since the first Foreign Investment Law was issued and the Investment Committee was established in 1988, many international investors have poured capital in the hotel and tourism sector. However, the foreign capital flow and the number of projects have sharply increased after the economic sanction was lifted. By mid-December this year, Myanmar had 35 hotel projects with foreign capital, with a total capacity of 6,235 rooms across the country and over $1.1 billion of investment and assets. Previously, Singapore took the lead in investment and assets, followed by Thailand, Japan and Hong Kong. In the past there was no hotel of Vietnamese investors in Myanmar. Since 2012, … [Read more...] about Hoang Anh Gia Lai dominates real estate market in Myanmar
Chelsea co-ops with Vietnam’s Hoang Anh Gia Lai football
Representatives from Hoang Anh Gia Lai (HAGL) FC from Vietnam's top-flight V-League will meet English premier league club Chelsea overseas next month to initialize cooperation between the two clubs. Via intermediary Umbro Corporation - the main sponsor of the English national football team, HAGL recently received word that Chelsea is seeking to establish relations and mutual cooperation, a local newspaper reported Monday. Under cooperation, Chelsea would lend HAGL two qualified U21 foreign strikers to play in the Vietnam league. HAGL football club belongs to the privately-owned Hoang Anh Gia Lai Company, with chartered capital of VND326 billion (US$20.4 million) owning total property valued at VND650 billion ($40.75 million). The company has ten affiliates and over 4000 staff at factories, hotels, resorts, apartment buildings, and the football club. Doan Nguyen Duc, chairman of the holding company, said total turnover of his company is estimated to reach VND312 billion … [Read more...] about Chelsea co-ops with Vietnam’s Hoang Anh Gia Lai football
Hoang Anh Gia Lai invests in high-end condominium along Han River
Danang Chairman Tran Van Minh and Mr. Doan Nguyen Duc, President of the Hoang Anh Gia Lai Group signed an agreement for two big investment projects on 25 June. These will be the third and fourth projects of Hoang Anh Gia Lai in Danang after the USD20mil five star complex of hotels and the USD25 - 30mil five star resort in Ngu Hanh Son District. According to the agreement, the Group will construct a condominium of offices, hotels and apartments along the Han River (Binh Hien Ward, Hai Chau District) on an area of 5 ha with total capital of USD150mil. In addition, another high-class 30-40 floor block of apartments on 5,500 m2 valued at USD30 mil will be built in the Thac Gian Lake area (Thac Gian Ward, Thanh Khe District). Mr. Duc said that the two projects have the biggest total capital ever of his company, and investment in high-class apartments in the central region is considered a breakthrough of Hoang Anh Gia Lai when the demand is not high yet. Chairman Tran Van Minh … [Read more...] about Hoang Anh Gia Lai invests in high-end condominium along Han River