2 March 2010
For immediate release
VinaProjects real estate services joint venture launched
HO CHI MINH CITY – VinaCapital Group, Vietnam’s leading asset management and real estate development firm, and inProjects Group, Asia’s leading independent project management company, are pleased to announce the launch of VinaProjects, a joint venture company.
VinaProjects is a real estate services company offering project and construction management, urban planning, and facilities management services to the Vietnamese market. VinaProjects aims to provide a world-class standard of service for real estate investors and developers in Vietnam, including VinaCapital Group.
VinaProjects was established in January 2010 and has already begun the delivery of landmark urban development projects valued at over USD500 million in cities across Vietnam, including Hanoi, Danang and Ho Chi Minh City. VinaProjects has three divisions – project management, urban planning, and facilities management – staffed by highly skilled professionals with substantial international and domestic experience.
Paul James has been appointed as Managing Director of VinaProjects. Mr James has extensive experience in managing major developments, including Heathrow Terminal 5 in London and large integrated resorts in Macau.
VinaCapital is one of the largest foreign investors in Vietnam’s real estate market, with considerable local knowledge and experience. inProjects has worked across the Asian region on a range of real estate projects, focused on large-scale hospitality and resort development. VinaProjects will combine and expand the services currently provided separately by inProjects and VinaCapital to improve efficiency and ensure the successful delivery of real estate projects. VinaProjects will be the sole supplier of real estate services for VinaCapital’s majority-owned real estate assets, while also participating in competitive tenders for third-party clients.
Matt Fletcher, inProjects Group Managing Director comments: “The Vietnamese market has enormous potential for growth and this joint venture will provide both partners the ability to maximise these opportunities. Our goal is for VinaProjects – and more importantly Vietnam – to become known for delivering high-quality, large-scale developments. With a number of projects already planned and underway, we look forward to a long and successful partnership with VinaCapital.”
Don Lam, VinaCapital CEO, comments: “VinaCapital has a significant number of major real estate projects located across Vietnam, and we must ensure all of these projects are delivered with world-class results. We want the next generation of urban and resort developments in Vietnam to be at the same standard as seen in cities across Asia and the world. We look forward to working with the inProjects team to help raise the standard of project delivery in Vietnam.”
For more information:
Lisa Chong, VinaProjects Communications and PR Manager
+84 (0) 8 3827 4088 ext. 149.
inProjects provides professional project management services across the Asia Pacific region specializing in the retail, leisure, hospitality and corporate sectors. As independent project managers, inProjects are one of the largest and fastest growing companies in their field. They currently have offices Hong Kong, Beijing and Shanghai, Macau, Singapore, India and Australia. More information is available at www.inprojects.net.
About VinaCapital Group
VinaCapital Group is the leading asset management, investment banking and real estate consulting firm in Vietnam. VinaCapital Group was founded in 2003 and has grown from a single USD10 million fund to a diversified investment firm with over USD1.6 billion in assets under management as of July 2009. VinaCapital manages three closed-end funds trading on the London Stock Exchange’s Alternative Investment Market (AIM). These are: VinaCapital Vietnam Opportunity Fund (VOF); VinaLand Limited (VNL); and Vietnam Infrastructure Limited (VNI). VinaCapital also co-manages the DFJ VinaCapital technology venture capital fund with Draper Fisher Jurvetson. More information is available at www.vinacapital.com.