Breaking: FLC Abruptly Relocates Shareholder Meeting to Iconic Tower, Symbol of Trịnh Văn Quyết’s Golden Era

FLC Group Joint Stock Company has announced a change in the venue for its 2nd Extraordinary Shareholders’ Meeting in 2025.

The new venue is Levels 36-37, The West Building, 265 Cau Giay Street, Cau Giay District, Hanoi, replacing the previous location at FLC Landmark Tower, Le Duc Tho Street, Tu Liem District, Hanoi. The meeting will still take place on Tuesday morning, November 11, 2025.

Notably, The West Building was previously known as Bamboo Airways Tower, developed by FLC and constructed in 2019. The building has a total floor area of over 101,000 sqm, comprising 42 floors, including 4 basement levels and 38 above-ground floors.

In November 2020, FLC used this building to offset its debt obligations to the Orient Commercial Joint Stock Bank (OCB), along with subsidiaries like FLCHomes, FLC Faros, FLC Stone, and Bamboo Airways.

By June 2022, FLC issued a resolution to repurchase the building from OCB, with FLC and FLCHomes as the buyers.

In October 2022, FLC and FLCHomes decided to sell Bamboo Airways Tower to Gateway Hanoi Joint Stock Company for VND 2,000 billion (inclusive of VAT, excluding the value of sold areas).

However, in 2023, unforeseen events led FLC and FLCHomes to sell Bamboo Airways Tower to Gateway Hanoi Joint Stock Company for VND 2,000 billion, and the building was renamed The West.

The meeting agenda includes the Board of Directors’ report on the first half of 2025’s business results and the 2026 business plan; removal and election of Board members; removal and election of Audit Committee members.

FLC will also seek shareholder approval to authorize the Board to select an auditor for the 2025 financial statements and address outstanding business, investment, and financial issues.

Ahead of the meeting, FLC witnessed significant leadership changes. Board members Do Manh Hung and Nguyen Chi Cong, also Deputy CEO of Corporate Governance, resigned due to time constraints. They requested an early meeting for their resignation approval.

Currently, FLC’s Board has only 2 out of 5 active members. In December 2024, Le Ba Nguyen, Chairman and brother-in-law of former Chairman Trinh Van Quyet, resigned for personal reasons. The August 2025 meeting to remove him failed due to insufficient quorum.

The November 11 meeting is seen as a chance for FLC to rebuild its leadership, restructure governance, and lay the foundation for recovery.

Alongside personnel changes, FLC is accelerating a comprehensive restructuring, starting with reacquiring Bamboo Airways, once a flagship of the FLC ecosystem.

At Bamboo Airways’ September 2025 Extraordinary Shareholders’ Meeting, Chairman Le Thai Sam admitted the previous restructuring fell short and proposed FLC retake ownership and management.

Bamboo Airways, born from Trinh Van Quyet’s aviation vision, now returns under FLC’s direct control, becoming a strategic pillar in the group’s revival.

FLC is also reviving its core real estate business, which built its market reputation.

In June 2025, FLC launched the Hausman Premium Residences project in FLC Premier Parc (Dai Mo Ward, Hanoi), marking its return to the capital’s real estate market.

In April 2025, Gia Lai Province (formerly Binh Dinh) approved FLC’s plan to develop an airport urban area in Cat Tan Commune, Phu Cat District, with a two-month survey period.

FLC’s 2025 initiatives, from legal settlements to Bamboo Airways reacquisition and real estate restarts, signal a clear recovery effort. The November 11 meeting is viewed as a “rebirth milestone,” ushering in a new era after FLC’s most turbulent period.