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The Group has its experience in property development dated back to 1991 in China. Property projects having been developed by the Group included Shenzhen Lo Wu Commercial City, Shenzhen Jinfeng City, several residential projects in Chengdu, Bei Hai and etc. Besides, The Group has also developed its own office building, Saigon Trade Centre in Ho Chi Minh City, Vietnam for leasing purpose.

Ho Chi Minh City, Vietnam

With the economy of Vietnam growing fast especially after joining of the WTO, we expect that the demand for residential apartments will increase along with the growth of a pool of young middle class. In addition, economic growth has also accelerated the process of urbanization, resulting in a flock of rural population moving towards the major cities. This is especially notable in Ho Chi Minh City as it is the major economic and commercial center of Vietnam and Vietnam is an Asian country with the highest proportion of young population.

Seeing the trend and adding with the support of a stable cash flow from Saigon Trade Center and cement business, the Group has also engaged in property development market for residential housing in Ho Chi Minh City, Vietnam.

The Group currently owns 85% of a joint venture company in Vietnam, namely Thanh Phat, which holds a piece of land with an area of approximately 22,000 square metres in Binh Chanh District of Ho Chi Minh City. The partner of the joint venture is a reputable local Vietnam’s construction company which owns 15% of the joint venture. The preliminary plan of the Project includes 6-8 blocks of residential apartments, each with 16 floors, for total areas of 115,000 square metres.

Besides, the Group is also exploring other opportunities of residential or commercial development in Ho Chi Minh City.