The appearance of Masterise Group - Vietnam's leading real estate developer is expected to soon complete and put Thanh Da Residence into operation after many years of delay.
Ho Chi Minh City Department of Natural Resources and Environment has just issued Official Letter No. 6045/STNMT-QLD to the City People's Committee on the proposal to allocate land to Thanh Da Housing Development Joint Stock Company, to implement phase 1, Lot IV and Lot VI of the Project. Investment project to build a cluster of 8 apartment buildings, Thanh Da Residence, Ward 27, Binh Thanh District, Ho Chi Minh City.
The land area of 2 lots IV and VI has an area of more than 1.47ha with a total investment of more than 5,000 billion VND. The capital source is self-balanced by the investor, in which, at least 20% of the total investment capital belongs to the owner. Until now, Thanh Da Housing Development Joint Stock Company has transferred the temporary cost for compensation, resettlement support and temporary residence to implement the project with the amount of more than 684 billion VND.
Thanh Da residence was built before 1975, including 14 blocks of letters and 8 lots of numbers. In 2016, Binh Thanh District dismantled Lot IV and Lot VI because these two apartments were degraded and not safe for residents to live. As for the remaining 6 apartment blocks, the remaining number is also degraded (grades B and C) and is currently inhabited by 1,200 households, of which 257 households are owned by the State, and 943 households are privately owned.
In 2012, Ho Chi Minh City assigned the Department of Construction to invite and consider investors with sufficient financial capacity and experience to invest in building all 8 new lots. In 2017, the People's Committee of Ho Chi Minh City made a decision to recognize Thanh Da Housing Development JSC as the investor of this project.
Eight apartment blocks of lot number at Thanh Da residence have been approved by Binh Thanh district with detailed planning 1/500 with a total area of more than 73,000 m2. In which, mixed land is nearly 50,000 m2, education land is nearly 8,000 m2, the rest is parkland and green trees. Phase 1 will invest in building two new lots IV and VI due to the completion of site clearance compensation.
Thanh Da Housing Development Joint Stock Company was established in September 2016, is a joint venture between 5 investors: National Housing Organization Joint Stock Company, Van Phuc Gia Investment Company, TAG Investment Joint Stock Company, Local One Member Limited Liability Company. Binh Thanh snail and NIBC Korea Co., Ltd.
However, after that, two companies applied to withdraw, the remaining three shareholders were National Housing Corporation (holding 49%), Van Phuc Gia Investment JSC (17%), TAG Investment JSC (34). %).
After increasing charter capital to 950 billion in October 2017, all three shareholders in turn withdrew all capital from Thanh Da Company. Details of the new shareholder structure were not announced, but in a remarkable development, in March 2018, after the change of ownership was completed, the position of General Director cum legal representative of the Company Thanh Da was assigned to Mrs. Nguyen Thi Minh Thu (SN 1973).
Ms. Nguyen Thi Minh Thu is an important link in the Masterise Group ecosystem. She used to be named in many member units such as Quyen Tinh Company Limited, Tuong Viet Investment Company Limited, Vinh Hoi Development Investment Joint Stock Company or Minh Huy Land Investment Company Limited...
On December 26, 2019, Masterise Group Joint Stock Company and Thanh Da Company signed a series of project development contracts, including Representative Service Contract, Outsourcing Contract, Marketing Consulting Service Contract, advertisement.
The project is being arranged by Techcombank.
Masterise Group, formerly known as Thao Dien Investment Joint Stock Company (Thao Dien Investment), was established in 2007 and marked the Vietnamese real estate market with the Masteri Thao Dien luxury residential project in 2014.
After changing its name in November 2019, Masterise Group simultaneously emerged rapidly with the acquisition of a series of leading large-scale and prime real estate projects in District 1, Ho Chi Minh City, which is the Golden Hill 87 project. Cong Quynh, project One Central Saigon (formerly The Saigon One), Grand Marina Saigon in Ba Son area, or super project Saigon Binh An Urban Area (District 2).
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