Enterprises with projects but lacking financial resources and enterprises with financial resources and experience in project development but without projects are increasingly looking for each other to "come home together".
Since the beginning of 2024, the real estate market has shown signs of recovery, with many projects being licensed and introduced to the market. The recovery is not only reflected in the launch of new projects, but also in the fact that real estate businesses are looking for each other to develop.
Danh Khoi Group has just announced that it is looking for a partner to develop a real estate project in Thuan An City (Binh Duong). According to Danh Khoi, the project calling for business cooperation is the Thuan An Square One high-rise apartment building, which currently has legal documents such as investment policy and 1/500 planning. According to Danh Khoi, 100% of the project can be transferred, or businesses with capital can cooperate to develop it.
Five Star International Group also announced a search for experienced businesses to jointly develop and sell products at the Five Star Eco City Project (Long An). According to Five Star Group, this project has a total area of 650 hectares, and will open for sale project components in the first quarter of 2025. Because the business is mainly a developer, has no experience in sales implementation and also needs capital to develop infrastructure, so it wants to find a partner to do this.
Another famous real estate company, Khai Hoan Land, is also looking for partners with land funds and projects, but without the experience and finance to cooperate.
Currently, Khai Hoan Land is negotiating with many businesses with projects in Nha Trang, Phan Thiet, Da Nang, Binh Duong, Ba Ria - Vung Tau... However, the negotiation process will be long, because negotiating equity capital flows, profits, legality of projects... is the most difficult issue of the cooperation.
Similarly, An Phu Sinh Real Estate Joint Stock Company also announced that it is looking for a company with financial potential to jointly develop a townhouse project with an area of over 14 hectares in Long An province. Currently, the project's legal documents have been completed, but due to financial difficulties, the company has not been able to implement it.
There have been successful deals, creating new projects for the market. For example, TT Capital Investment Joint Stock Company in Ho Chi Minh City found a partner to develop a project of which it is the investor.
TT Capital leaders said that after more than 2 years of searching and negotiating with partners, the company has joined hands with Cosmos Initia Company (a member of Daiwa House Group) - a Japanese company with more than 50 years of experience in real estate development. The Japanese company will invest 150 million USD within 5 years for TT Capital to develop real estate projects. The first project is called TT AVIO in Di An City (Binh Duong).
Most recently, Phat Dat Real Estate Development Joint Stock Company cooperated with Thanh Binh Phu My Joint Stock Company - the "tycoon" of industrial park real estate, to jointly carry out industrial park real estate projects with a scale of more than 5,000 hectares in many localities.
According to Phat Dat, the company has land funds, but lacks experience and finance to develop these projects. Therefore, joining hands with Thanh Binh Phu My is the best choice.
Not only large enterprises join hands, many small enterprises also seek each other to cooperate. An Nong Group - a company that was formerly trading in fertilizers and pesticides, owns a lot of land, wants to do real estate projects but has no development experience. Therefore, in early July 2024, this company cooperated with a brokerage company in Ho Chi Minh City to jointly develop a project called An Nong 7 Residential Area in Duc Hoa District (Long An).
An Cuong Wood Company also participated in the contractor consortium represented by Thang Loi Homes Joint Stock Company (under Thang Loi Group) to register to implement the Binh An Duc Hoa Urban Area Project (Long An). The total expected investment capital is nearly 9,300 billion VND.
An Cuong Wood is a company in the field of materials and furniture from industrial wood, with a reputation in the domestic and international wooden furniture market. Real estate experts believe that An Cuong Wood's choice to cooperate is the right choice because the company has no experience in developing real estate projects. Cooperating with An Cuong Wood will help Thang Loi Homes create affordable products, meeting the housing needs of the majority of residents in the area, with good quality products at reasonable prices.
Mr. Le Hoang Chau, Chairman of the Ho Chi Minh City Real Estate Association (HoREA), said that businesses often cooperate to develop real estate projects when a business is facing many difficulties and needs capital, or a business in another field wants to jump into real estate and needs to cooperate with experienced businesses.
“It is a fact that doing business with domestic enterprises is still more convenient, while cooperation with foreign enterprises will have certain obstacles. Moreover, Vietnamese enterprises often fear being taken over and ‘swallowed’ by foreign enterprises, so they want to choose domestic cooperation,” Mr. Chau commented.
Source: https://baodautu.vn/batdongsan/doanh-nghiep-dia-oc-tim-nhau-de-phat-trien-du-an-d224593.html
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