Strategically located in the “diamond” position of Ho Chi Minh City, opposite Ba Son Bridge, this building directly connects to the city’s financial hub. It was once owned by the family of entrepreneur Nguyễn Thành Lập, founder of Tiến Phước Group.
In the latest shareholder disclosure in early September 2017, the company operated as Tiến Phước and Chín Chín Mươi LLC with a charter capital of VND 1,028 billion. Shareholding structure: Tiến Phước Real Estate JSC (49.805%), TPI Investment LLC (40.953%), Nguyễn Thị Mỹ Phương (9.193%), and Nguyễn Thị Mỹ Hạnh (0.049%). Mr. Lập served as CEO and legal representative.
By late September 2017, founding shareholders exited, and the company transitioned to a joint-stock model, adding licensed electronic gaming to its portfolio. After capital increases, by August 2021, Mr. Lập stepped down, succeeded by Colin Michael Pine (American), who remains CEO. This shift suggests Tiến Phước’s likely withdrawal from the luxury project.
In H1 2025, TPI Investment held VND 566 billion in bond debt (total liabilities: VND 813 billion), with equity of VND 654 billion. It reported VND 22 billion in post-tax profit but carried VND 193 billion in accumulated losses.
Le Méridien Saigon, a 5-star luxury hotel and office tower, occupies a 3,235m² plot zoned for high-end hospitality and commercial use. Its land lease expires in August 2059, originally granted to Tiến Phước and Chín Chín Mươi LLC.
– 17:07 05/01/2026
Curbing Speculation, Price Manipulation, and Digitizing Real Estate Transactions
Soaring property and real estate prices in recent times stem from a multitude of factors, including supply-demand imbalances, speculative activities by investors, price manipulation by brokers, and the creation of artificial market conditions.
CII Partners with HFIC to Develop Two Major Transportation Projects Worth VND 10,000 Billion in Ho Chi Minh City
CII and HFIC have signed a Memorandum of Understanding (MoU) to collaborate under a Public-Private Partnership (PPP) model, prioritizing two major transportation projects in Ho Chi Minh City. This partnership aims to enhance traffic capacity at key gateways, addressing critical congestion issues in the city.
Investment Outlook 2026: Capital Seeks Opportunities in the New Growth Cycle
Amidst a global economy fraught with uncertainties, Vietnam’s high growth coupled with macroeconomic stability positions it as an increasingly attractive investment destination.
Ho Chi Minh City Engages Over 50 Partners Eager to Join the International Financial Center
The Ho Chi Minh City government has engaged with over 50 investors and partners, including major players such as Nasdaq, VinaCapital, Binance, Tether, Viettel, and FPT. Their participation is anticipated to bring significant resources, advanced technology, and sustainable growth to the International Financial Center, accelerating its development.
What Strategies Do Hanoi and Ho Chi Minh City Propose to Achieve Double-Digit Growth by 2026?
On the morning of January 8th, the government convened a nationwide online conference with local authorities to evaluate the achievements of 2025 and outline the objectives for 2026. During the conference, numerous regions highlighted their positive outcomes from the past year and proposed key solutions, demonstrating a strong commitment to achieving double-digit growth in 2026 and beyond.
