Vingroup transfers shares of part of the investor of the 'billionaire island' project

Vingroup has just announced the transfer of all shares in VYHT Company. This is a legal entity established to implement part of the Vinhomes Royal Island (Billionaire Island) project in Hai Phong.

Perspective of Vingroup's 'Billionaire Island' project in Hai Phong. Photo: VHM

Vingroup Corporation has just announced to the Securities Commission the Board of Directors' resolution on the transfer of all 99.93% of shares at VYHT Joint Stock Company. Of which, 80% of shares were transferred to a foreign investor; the remaining 19.93% of shares were transferred to Vinhomes Joint Stock Company (VHM). After the above transaction is completed, VYHT is no longer a subsidiary of Vingroup. VYHT Company was established in June 2024, with its head office at No. 1 Hanoi Street, Ha Ly Ward, Hong Bang District, Hai Phong City. Its main business line is real estate. VYHT is a legal entity established by Vingroup since June this year, headquartered in Hai Phong. VYHT Company was established to invest, construct, trade and operate part of the entertainment, housing and ecological park project on Vu Yen Island, Hai An District and Thuy Nguyen District, Hai Phong City. This project, with the commercial name Vinhomes Royal Island (or Billionaire Island), has been open for sale since the end of March. With a scale of 877 hectares, Vinhomes Royal Island has a total investment capital of about 2.4 billion USD located entirely on Vu Yen Island. Vinhomes also said that Vinhomes Royal Island is the only urban project in Vietnam and a rare one in the world where the majority of private homes own a private beach right behind their houses. The entire project is divided into 11 sub-areas, surrounding the golf course and interspersed with utility and service systems: King Island, Royal, Noble, Golf Land, Paradise Island, Miyabi, Komorebi, Imperial City, Tai Loc, Kinh Do, Royal Riverside, including housing types such as villas, townhouses, shophouses... Source: https://tuoitre.vn/vingroup-chuyen-nhuong-co-phan-chu-dau-tu-mot-phan-du-an-dao-ty-phu-2024113008571509.htm