At the time when the whole real estate market is somehow quiet because of many difficulties after a long time fighting the Covid-19 pandemic, Ba Ria - Vung Tau has a move to "prepare" for new supply for real estate transactions in the near future.

With real estate giants such as Saigon Telecommunication & Technologies Corporation (SAIGONTEL), Kinh Bac Urban Development Corporation (KBC), Saigon Construction Joint Stock Company (SCC) announced the joint venture establishment to "hunt for good land" and contribute capital to invest in the construction and development of projects in early 2021 has shown the strategy of "prepartion" with the next wave of real estate in the market.

Specifically, on October 15^th, 2020, the Joint Venture of Saigon Telecommunication & Technologies Corporation (SAIGONTEL), Kinh Bac Urban Development Corporation (KBC), Saigon Construction Joint Stock Company (SCC) received the decision No. 3146/QD-UBND of the Ba Ria - Vung Tau People's Committee approving the results of pre-qualification to select the investor of the project "Nam Vung Tau New Urban Area" - An international-class urban area, plays the role of gateway of the coastal city of Vung Tau. Following the decision of prequalification and expansion of business orientation in Ba Ria - Vung Tau, February 2021, despite the quiet real estate market in other parts of the world due to the impact of the Covid-19 Pandemic, Joint Venture still confidently officially announced the capital contribution to establish Vung Tau Investment Group Joint Stock Company (abbreviated name: “VTI”) with initial charter capital of up to 1,000 billion VND to implement the project.

As the leading of the Joint Venture, at its 2020 shareholder meeting, Saigon Telecommunication & Technologies Corporation (SAIGONTEL), once announced a strong business development strategy under the "industry- urban - service" model and forecast the development of real estate in high-tech zones, industrial parks nationwide and a serious shortage of housing demand, as well as accompanying services. At the conference, this unit also announced a number of projects that will be strongly invested to realize that strategy, including the project "Nam Vung Tau New Urban Area".

Ba Ria - Vung Tau province is located in the Southern Key Economic Zone with advantages in geography and mineral resources that has always been one of the economic "leaders" of the country with a remarkable development speed. The project "Nam Vung Tau New Urban Area" (also known as the old name of Petrol Vung Tau New Urban Area - Petroland) has a scale of 69.46 hectares with total investment up to 4,620 billion VND. Located right on National Highway 51B, an arterial road with synchronously developed infrastructure and a diverse system of public service works, it is expected to be one of the rare remaining "golden" land funds of the city ". In addition to the new Administrative Center of Vung Tau city moving to adjacent to the project location, it has also attracted a lot of attention from local and foreign investors. This place is considered to be a "magnet" to attract people to live, create a "growth" for the local economic and social development and a new breakthrough point that will make the real estate market exciting in the near future.

Perspective overview of the Nam Vung Tau New Urban Area Project

           ABOUT JOINT VENTURE COMPANY OF KBC, SCC, SAIGONTEL

• Company Name: Vung Tau Investment Group Joint Stock Company
• Company address: LK 28 Hang Dieu 1 Street, Ward 10, Vung Tau City, Ba Ria - Vung Tau Province
• Representative of managing SAIGONTEL's contributed capital at Vung Tau Investment Group Joint Stock Company: Ms. NGUYEN CAM PHUONG
• SGT's capital contribution ratio: 16.99% of total charter capital at Vung Tau Investment Group Joint Stock Company
• Project: Nam Vung Tau New Urban Area
• Location: National Highway 51B, Ward 10 and Ward 11, Vung Tau City.
• Scale: 69.46 ha
• Expected population size: 12,000 residents

About SAIGONTEL

Saigon Telecommunication & Technologies Corporation - SAIGONTEL (Headquarter: at Lot 46 Quang Trung Software Park, Tan Chanh Hiep Ward, District 12, Ho Chi Minh City) is a member of Saigon Invest Group - The leading investment group in Vietnam in developing industrial - urban - service complexes. Over the past 20 years, Saigon Invest Group (SGI) has successfully invested and developed more than 30 industrial - urban - service zones nationwide, such as: Complex of industrial - urban - service parks Trang Due (Hai Phong) with more than 1,000 hectares, successfully attracting LG Group and satellite companies to invest in high technology up to more than 10 billion USD; The population of industrial parks and service towns in Bac Ninh has a scale of 2,000 ha, typically Que Vo - Bac Ninh Industrial Park with more than 600 ha has been completed, Dai Dong - Hoan Son Industrial Park has completed 400 ha and many other industries. With a total industrial land fund of more than 6,000 hectares and 1,500 hectares of other commercial real estate, SGI has quickly become a leading private corporation in the field of investment & development of industrial parks - urban areas. industrial park marketing and services and has achieved many prestigious achievements and awards and is a member of the World Economic Forum.

About KBC

Kinh Bac Urban Development Corporation (KBC) - is a member of Saigon Invest Group (SGI), was established in 2002 with business lines specializing in infrastructure investment in industrial parks and urban zones. KBC's outstanding competitive advantage is the combination of industrial park and service city. This unique idea not only brings economic value to the country and businesses, but also shows profound social value. Moreover, KBC's Industrial Parks and Service Urban Areas are always convenient locations in all aspects: Located on a convenient traffic location, near seaports, airports. Converging all potentials with advantages and rich experience, in recent years, the leading real estate projects in Vietnam that KBC is managing, such as: Que Vo Industrial Park - Bac Ninh; Trang Cat - Hai Phong Industrial Park; Office complex, Shopping Center, 6-star hotel - My Dinh - Hanoi is the competitive dream of other real estate enterprises. Currently, KBC not only maintains the No. 1 position in Real Estate, but with the right business directions, KBC is also the leading enterprise in Vietnam in terms of strongly attracting foreign direct investment (FDI), especially is to attract high technology investment (CNC) from world famous large corporations such as: Canon, Foxconn, MITAC, Panasonic, Sanyo, Wintek, UMEC, Tenma, Mitsui, VS, Sentec, Toyo Ink, Yamato Industries: Canon and Foxconn products manufactured in KBC's Que Vo Industrial Park are evaluated by the Vietnamese Government as the highest-tech products in Vietnam today.

About SCC

Saigon Construction Joint Stock Company (SCC) was established in 1999. Over the past 21 years of establishment and development, SCC has risen strongly and continuously expanded in a variety of real estate business fields: Construction, design and construction, factory lease; Investment in urban and resort development projects in key southern areas such as Ho Chi Minh City, Quy Nhon (Binh Dinh), Lagi (Binh Thuan). SCC has affirmed its prestige and potential, continuously expanding diversified business fields with the formation of many outstanding projects such as: Ham Tan - Binh Thuan resort project which was formed. was established in 2002 with a scale of 183 hectares in Lagi, Binh Thuan; Saigon SunBay project, the largest project in Vietnam using modern sea encroachment construction technology in 2007; The Song project in the coastal city of Da Nang in 2012; 4-star hotel project Fleur De Lys broke ground in 2016 with a scale of 20,655 m2 of construction floor, 17 floors and 200 rooms; launched campaign of the "52 days and nights" urban area and launched the Sol Villas high-class compound villas in 2018.

Links to news sites:

Doanhnhan.vn: https://doanhnhan.vn/dong-von-dau-tu-van-do-vao-thi-truong-bat-dong-san-ba-ria--vung-tau-nhung-thang-dau-nam-2021-38089.html

VnExpress: https://vnexpress.net/kinh-bac-lap-cong-ty-von-1-000-ty-dong-tai-vung-tau-4239262.html

Zingnews: https://zingnews.vn/kinh-bac-lap-cong-ty-1000-ty-de-phat-trien-du-an-o-vung-tau-post1186616.html

Nhipsongdoanhnghiep: https://nhipsongdoanhnghiep.cuocsongantoan.vn/du-an/dai-gia-dang-thanh-tam-lap-cong-ty-con-de-lam-du-an-4620-ty-dong-o-vung-tau-3559906.html

Communication Department