The project covers an area of nearly 50 hectares and has a total investment of more than 1 billion USD. The project is located between the major roads: Binh Duong Boulevard (National Highway 13), Nguyen Thi Minh Khai and Ring Road 3, Thuan Giao Ward, Thuan An City. The product structure includes shophouses, adjacent townhouses, compound villas and apartments…
The project is divided into 6 sub-projects, expected to build first the utilities including a conference – exhibition center, AEON shopping mall, 5-star hotel, international inter-level school and officially introduce products to the market in 2025.
Kim Oanh Group’s representative signed an investment cooperation for the project with three Japanese partners: Sumitomo Forestry Group, Kumagai Gumi Group, and NTT Urban Development Corporation. At the same time, Kim Oanh Group also signed a cooperation to develop a commercial center in the project with AEON Vietnam Company.
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Updated to September 2023, Kim Oanh TPHCM Company has a charter capital of 1,200 billion VND, with Mr. Nguyen Duc Phu (born in 1995) as General Director and legal representative. |
According to the signed agreement, the cooperation structure of the project will be divided in the proportion of Kim Oanh TPHCM Investment and Development JSC (belonging to Kim Oanh Group) holding 51% of shares; the three Japanese partners Sumitomo Forestry, Kumagai Gumi and NTT holding 49% of shares. In particular, AEON Vietnam will develop and operate a commercial center right in The One World urban area.
 Perspective of The One World project
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It is known that, The One World is also known as Hoa Lan residential area. The project was acquired by Kim Oanh Group from the auction of Agribank – Cho Lon Branch, with the amount of 1.353 billion VND. After that, the Company invested a total of over 1,600 billion VND in the project. When the project was undergoing the procedures to transfer the investor, in February 2019, Thien Phu Company (the old investor who mortgaged the project) sued the auction organizer, requesting to cancel the auction result and to receive the project. The People’s Court of District 7, HCMC (where the auction organizer is headquartered) accepted and issued an urgent measure “prohibiting the transfer of property rights” to the project.
After nearly two years, on November 12, 2020, the People’s Court of District 7 dismissed all the plaintiff’s requests; lifted the restraining order on the Hoa Lan residential project. The judgment at first instance was not appealed, and is now in effect.
Immediately after that, Kim Oanh Group completed the procedures to transfer the investor. On December 11, 2020, the People’s Committee of Binh Duong Province issued a document requesting the Department of Construction to consider transferring the project investor to Kim Oanh Group.
On December 18, 2020, Agribank – Cho Lon Branch, Thien Phu Company and the auction organizer officially handed over the project to Kim Oanh Group in the field. On December 30, 2020, the Hoa Lan residential project was officially cleared of mortgage.
Mr. Nguyen Phu Duc – General Director of Kim Oanh TPHCM Company received the handover of the Hoa Lan residential project in December 2020. Source: Kim Oanh
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