Singapore firm becomes new player in Vinhomes Ocean Park 3 project
Singaporean-based CVH Nachos 1 Pte. Ltd. has become the new owner of Lighthouse 1 Real Estate Development Co., Ltd. (Lighthouse 1), which is developing the Vinhomes Ocean Park 3 project in the northern province of Hung Yen.
The information was disclosed by Lighthouse 1 on December 25.
The Vinhomes Ocean Park project in Hung Yen province, northern Vietnam. Photo courtesy of Vinhomes.
Four days earlier, the board of directors of Vinhomes (HoSE: VHM), a real estate arm of conglomerate Vingroup, announced the transfer of its entire stake in Lighthouse 1 to serve its business operations.
CVH Nachos 1 Pte. Ltd. is believed to have close ties with Singapore’s CapitaLand Group, as its headquarters at 168 Robinson Road #30-01 Capital Tower in Singapore shares the same address as CapitaLand's.
The CEO and legal representative of Lighthouse 1 is Low Mun Kit Alwin, who also serves as the legal representative for the Hanoi branch of CapitaLand Real Estate Management (Vietnam) Ltd., a subsidiary of CapitaLand.
Low holds a 50% stake in Lighthouse 1, while Lim Qin Jie Jazreel holds the remaining 50%. These individuals also represent capital in Anh Sao Commercial Development and Trading LLC (Anh Sao), the investor behind the Lumi Hanoi apartment project located in the The Sun area of Vinhomes Smart City, a Vinhomes project in Hanoi’s Nam Tu Liem district.
CapitaLand is also behind The Senique Hanoi, a project within the Vinhomes Ocean Park urban area developed by Vinhomes. Lighthouse 1 itself has its headquarters located in the Dai An Ecological Urban Area project, another Vinhomes development in Hung Yen.
Notable movements in Vinhomes projects
A series of project component transfer transactions have taken place within Vinhomes developments in the final months of 2024.
An Thinh General Commercial Services LLC and Hai Dang Real Estate Development Investment Co., Ltd. on November 28 signed a principle transfer agreement for the high-rise housing area in land plots CT-01, CT-05 and CT-06 of the Dream City ecological urban area, commercially named Vinhomes Ocean Park 2.
On December 18, Minh An Development and Investment Co., Ltd. and Vietnam Exhibition Fair Center JSC (VEFAC), a subsidiary of Vingroup, signed an investment and business cooperation agreement which aims to invest, construct and operate some components of Vinhomes Co Loa project in Hanoi’s Dong Anh district.
On the same day, VEF inked an investment and business cooperation agreement with Phu Tho Land JSC to invest, construct, and operate some components of the Vinhomes Co Loa project.
Earlier, on August 29, Phu Tho Land signed an agreement with Vinhomes regarding the purchase of townhouses at the Dai An ecological urban area project, commercially named Vinhomes Ocean Park 3 – The Crown.
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