TNR Holdings members hunt for 'golden lands' in northern Vietnam

Members of TNR Holdings, a leading real estate developer in Vietnam, have been actively hunting for major property projects in the country's northern provinces since the beginning of 2023.

In early August, Thanh Hoa province's Department of Planning and Investment announced registrations for tenders for the Uoc Ngoai New Residential Area project in Tan Phong township, Quang Xuong district; and the Cao Nguyen Residential Area project in Ngoc Lac township, Ngoc Lac district.

Notably, the companies that submitted applications were all members of the TNR Holdings ecosystem.

A joint venture between American Property JSC and Duc Tri Investment and Development JSC was the only investor to apply for the Cao Nguyen Residential Area project.

This project covers about 22.68 hectares with a total investment of nearly VND612 billion ($25.66 million). With a land use period of 50 years, the project will be implemented no more than four years from the date of approval of investor selection or investor approval.

Headquartered in Chi Linh town, Hai Duong province, Duc Tri Investment and Development JSC was established in June 2007, specializing in real estate.

Meanwhile, Hanoi-based American Property JSC, formerly known as Winter Real Estate JSC (VID), was established in November 2007 with real estate at its core. Its charter capital as of March 5, 2020 was VND1.62 trillion ($67.94 million).

The Uoc Ngoai New Residential Area saw only one investor registering, which is a joint venture between Oleco - NQ Co., Ltd, headquartered in the central province of Nghe An, and Hanoi-based Viet Han Trading-Advertising-Construction-Real Estate JSC.

The 10.8-hectare project has a total investment of about VND374 billion ($15.68 million), with an operation term of 50 years. It will be implemented no more than three years from the date of approval of investor selection or investor approval.

Earlier, in February 2023, another TNR Holdings member, An Phuc Real Estate Development JSC, was also the only investor registering to carry out the Eastern Residential Area in Dinh Van township, Lam Ha district, Lam Dong province in the Central Highlands.

The project spans nearly 14.5 hectares with a total investment of nearly VND820 billion ($34.4 million). Set up on June 1, 2022, An Phuc Real Estate is headquartered in Hoang Van Thu ward, Hoang Mai district, Hanoi.

In April this year, Oleco - NQ Co., Ltd and American Property JSC applied for implementing a 30.6-hectare urban area project in Ba Xuyen commune, Song Cong town, Thai Nguyen province with an investment capital of VND834 billion ($34.97 million).

In May, An Phuc Real Estate and American Property formed a partnership to register for implementing the Hoang Xa New Urban Area project in the port city of Hai Phong. The project covers nearly 35 hectares with a total investment capital of VND3.44 trillion ($144.26 million).

In June, three members of TNR Holdings namely Oleco-NQ, Hano-VID Real Estate and Saigon Garment-Match JSC applied for a 9.7-hectare housing project in Nghia Hiep commune, Yen My district, Hung Yen province. The project is expected to be built at a cost of nearly VND1.33 trillion ($55.77 million).

Later in the same month, the People’s Committee of Thanh Hoa province approved Oleco-NQ and Hanoi-VID as the investor of the Loc Tan Residential Area in Hau Loc township, Hau Loc district.

The 11-hectare project has a total investment capital of more than VND720 billion ($30.2 million).