12:38 (GMT +7) - Friday 16/11/2018

Property

PHI Group partners with Hanoi MHD Invest

Released at: 10:47, 20/08/2018

PHI Group partners with Hanoi MHD Invest

MHD Trung Van in Hanoi, a project developped by the Hanoi MHD Invest JSC (Photo from mhdtrungvan.net)

Two sign MoU over real estate investment and development activities in Vietnam.

by Doanh Doanh

PHI Group, Inc., a diverse holding company from the US focused on merger and acquisitions (M&A) and investments in natural resources, energy, agriculture and special situations, has signed a memorandum of understanding with the Hanoi MHD Invest JSC over real estate investment and development activities in Vietnam.

“As we continue to focus on number of key long-term programs in Vietnam, we are delighted to have MHD as our partner in the real estate investment and development sector,” said Mr. Henry Fahman, Chairman and CEO of PHI Group. “We are highly impressed with MHD’s talented, professional and disciplined management and look forward to building a mutually rewarding association that will contribute to a new phase of growth and expansion for both companies and beyond.”

PHI will assist MHD to become a publicly-traded company in the US and/or international stock markets. It will engage with the Vietnamese partner in the execution of building projects, including but not limited to the under-consideration Asia Diamond Exchange in the Free-trade Section of the Chu Lai Open Economic Zone in central Quang Nam province.

The two will also cooperate in the establishment of and investment in a real estate sub-fund under the master Reserved Alternative Investment Fund (RAIF) set up by PHI in accordance with the Luxembourg Institutional Bank Fund Laws. It is expected that the size of the real estate sub-fund will increase substantially over time to meet the growing needs of investment and development in Vietnam’s real estate market. MHD and PHI will cooperate to jointly develop and implement various real estate projects in Vietnam.

They will also coordinate with international partners to develop and provide innovative construction materials with new technologies to Vietnam and other Southeast Asian markets. MHD and PHI will cooperate to finance or invest in other third-party real estate and hospitality projects in Vietnam as opportunities arise.

“We are very pleased to partner with PHI Group on a comprehensive basis to participate in the development of the real estate sub-fund as well as other business opportunities that can capitalize on our expertise and experience to create significant value for stakeholders that would otherwise not be possible,” said Mr. Tung Thanh Nguyen, Chairman and General Director of MHD Hanoi Invest.

MHD has an excellent track record and vast experience in the fields of construction, project management, and real estate investment and development in Vietnam and is currently building two 40-story towers in Hanoi, among other prominent projects.

PHI Group was instrumental in taking the first Vietnamese company public on the US Stock Market in the past (i.e. Cavico Corporation, which used to be listed on Nasdaq), and is currently engaged in the areas of agriculture, renewable energy, real estate, consumer goods, and M&A in Vietnam. It will assist in taking MHD public in the US Stock Market and creating a platform for MHD’s growth and expansion in the future.

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