Image: Government News
On September 25, the People’s Committee of Bac Ninh Province approved the investment policy for the Social Housing Project No. 02 in Urban Areas 11 and 12, Tan Tien Ward.
The project is jointly developed by ACD Investment Management JSC, Masterise Homes Real Estate Development LLC, and Phuc Dong Housing Development JSC.
The project will be constructed on plot D-OXH-02 within Sub-Zone 2 of Bac Giang Urban Planning. It includes high-rise social housing apartments, transportation infrastructure, and external technical facilities such as internal roads, landscaping, and green spaces within the project boundaries.
Specifically, the project comprises 12 high-rise social housing buildings, ranging from 15 to 21 floors, with one basement level. It is expected to provide approximately 3,100 apartments, ranging from 44 m² to 77 m² (with no more than 10% of units exceeding 70 m²). The project also includes two floors dedicated to commercial and service activities.
The total construction area is approximately 18,502 m², with a total floor area of around 345,301 m² (including common areas, parking basements, and technical floors). The project will accommodate approximately 7,500 residents.
The total investment is estimated at 4.062 trillion VND, with equity capital of nearly 1.3 trillion VND. The project is scheduled to complete all legal procedures and commence operations within 80 months from the date of land allocation to the developers.
The project’s operational period is 50 years from the date of land allocation by the competent state authority.
Regarding the three joint venture members, Masterise Homes is a subsidiary of Masterise Group.
Masterise Homes is renowned for developing luxury real estate projects in Hanoi, Ho Chi Minh City, Da Nang, and other locations. Notable projects include Lumière Evergreen, Masteri Waterfront, The Grand Hanoi, The Rivus, and Grand Marina Saigon.
The current Legal Representative and CEO of Masterise Homes is Mr. Ho Anh Minh (born 1995), son of Techcombank Chairman Ho Hung Anh. The company’s chartered capital exceeds 4.304 trillion VND.
Phuc Dong Housing Development Company, established in 2017, primarily operates in the real estate sector and is headquartered in Hanoi. Ms. Nguyen Thi Chiem (born 1984) serves as both the CEO and Legal Representative. In June, the company increased its chartered capital from 380 billion VND to 560 billion VND.
Phuc Dong Housing Development has participated in the Hope Residences social housing project in Phuc Loi Ward, Hanoi, comprising 1,504 apartments with a total area of 20,003 m².
ACD Investment Management JSC, founded in 2020, has increased its chartered capital three times since the beginning of the year, reaching 1.470 trillion VND.
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