The Ministry of Natural Resources and Environment is consulting the community on the environmental impact assessment report for the Vinh Hy Luxury Resort project, invested by Syrena Vietnam Investment and Development Joint Stock Company.
This project was approved for investment by the Ninh Thuan Provincial People's Committee in 2015 and had its detailed planning 1/500 locally adjusted in early 2022. The total investment capital is about 1,600 billion VND on a total area of 64.65 hectares, to be implemented in the period 2022-2025.
Subsidiary of BIM Group
It is noteworthy that this project is invested and built on land under the management of Nui Chua National Park. The goal is to rent the forest environment to invest in eco-tourism business, combining high-class resorts to bring benefits to the investor and benefits to the State through taxes.
To implement the project, Syrena Vietnam Company is completing procedures to change the purpose of using forests and forest land to other purposes with an area of 11.58 hectares. This area includes 10.6 hectares of natural forest land and 0.98 hectares of planted forest land.
Syrena Vietnam was formerly the Real Estate Division under BIM Group of the family of businessman Doan Quoc Viet of Hanoi origin. The company is currently headquartered in Ha Long City (Quang Ninh Province), with a charter capital of VND 5,412 billion as of July 2022.
This is an important member of the real estate business branch of BIM Group, alongside BIM Real Estate JSC (BIM Land). Founder Doan Quoc Viet has long held the position of Chairman of the Board of Directors and legal representative of Syrena Vietnam.
The main investment portfolio includes housing projects, urban areas, tourist hotels, commercial centers, land plots... Some of the outstanding projects of this group include Halong Plaza Hotel, Fraser Suites luxury apartment complex, San Ho resort townhouses, Crowne Plaza Vientiane, Syrena cruise...
Syrena Vietnam currently has a number of member companies including Syrena JSC (investor of Syrena Hotel - Hanoi); Syrena Ha Long Real Estate JSC; Syrena Phu Quoc Real Estate JSC (investor of Intercontinental Phu Quoc Project); San Ho Housing Construction and Development JSC (investor of Green Bay Garden Project - Quang Ninh).
From real estate to energy, food
Syrena Vietnam is just a small branch in the giant ecosystem of BIM Group. The main legal entity representing the real estate sector is actually BIM Real Estate JSC (BIM Land) with an estimated total investment capital in projects of 5 billion USD.
BIM Land is introduced to have a land fund of 7.2 million m2 in strategic locations such as Quang Ninh, Phu Quoc, Hanoi, Vinh Phuc, Ninh Thuan, Laos... along with a system of 12 resorts and hotels, 3 commercial centers and office buildings.
The impressive investment portfolio includes Halong Marina (area of 250 hectares), Green Bay Village, Hung Thang Service Urban Area, Phu Quoc Marina (area of 155 hectares), Park Hyatt Phu Quoc, Thanh Xuan Valley, Royal Square, Toong Samsenthai....
BIM Land is also known in the financial market for issuing many large-value bonds. Most recently, on August 21, the company successfully issued a bond lot worth VND2,333 billion with a maturity date in mid-July 2030.
Or at the end of 2020, the company successfully mobilized a 36-month bond lot worth VND 1,000 billion to increase its operating capital and invest in the Centara project through business cooperation.
As a key unit, it is not difficult to understand why BIM Land recorded outstanding business results with profits of thousands of billions of VND each year. Even the profit in the first half of 2023 alone reached 810 billion VND, the equity scale reached 7,430 billion VND and debt was at a very high level of more than 19,200 billion VND.
In addition to real estate, the BIM Group ecosystem also has a strong presence in the energy and food sectors, with two main legal entities being BIM Energy and BIM Foods, respectively.
BIM Energy is one of the pioneer investors in renewable energy in Vietnam. Currently, the entire area of the solar and wind power plant cluster is located on a 2,500ha salt field, becoming the largest energy and salt production complex in Vietnam.
Some typical projects include the BIM 1-2-3 Solar Power Plant cluster with a total capacity of 405MWp (the largest plant cluster in Southeast Asia in 2020) or the BIM Wind Power Plant which came into operation in September 2021 with a total capacity of 88MW.
BIM Energy currently has a capacity of 1 billion kWh/year and sets a long-term goal of developing at least 1GW of clean energy (wind and solar power) by 2025.
BIM Foods is an agricultural production system in many fields from salt to seafood. The company has built the largest salt industrial economic zone in Southeast Asia, with an area of over 2,200 hectares and a total output of 350,000 tons/year.
This member company also owns a shrimp farming area of 1,600 hectares with a maximum total output of 20,000 tons/year, and owns the largest oyster farming area in Vietnam in Van Don with an area of nearly 1,000 hectares.
Some other brands belonging to BIM Group include the Elite Fitness gym chain, exclusive business rights to the Zpizza brand in Vietnam, Chicken Society chicken rice restaurant, Mizùmi Westlake Japanese cuisine restaurant, Soul Bow restaurant, Fu Bar...
According to the Quang Ninh Provincial Tax Department, as of August 31, the locality had 567 enterprises owing taxes and fees and 44 enterprises owing land-related amounts. Notably, Syrena Vietnam Company owed nearly VND188 billion, ranking second in the list of tax and fee debts in the province at that time.
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