Real estate major Kinh Bac gains majority control of Trump International Vietnam
Vietnamese developer Kinh Bac City Development Holding Corporation (HoSE: KBC) has expanded its portfolio to 19 subsidiaries following a new ownership move involving Trump International Vietnam.
According to a recent disclosure, Hung Yen Investment and Development Corporation (HYG), a subsidiary of KBC, has acquired a 99% stake in Trump International Vietnam. Through HYG, KBC now indirectly holds a 95.32% stake in the entity.
Illustration of the Trump International Hung Yen project. Photo courtesy of KBC.
Established on July 9, Trump International Vietnam is headquartered in the northern province of Hung Yen, with a charter capital of VND5.16 trillion ($198 million).
This development comes shortly following the May groundbreaking ceremony for Vietnam’s first Trump-branded golf and resort complex in Hung Yen.
The Trump International Hung Yen project is valued at approximately $1.5 billion and will cover nearly 990.43 hectares across six communes in Khoai Chau district. Construction is expected to be completed by the second quarter of 2029.
Upon completion, the Trump Organization will assume management of the project, according to statements made at a recent AGM of Kinh Bac City.
A financial disclosure report released by the U.S. Office of Government Ethics showed that the Trump family business is set to receive $5 million in license fees for the project.
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