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        Saigon Office Newsletter

        Tuesday, 03:30 Day 14/08/2018

        Hong Kong Alpha King in the heart of HCMC

        Alpha King Vietnam Real Estate Development Joint Stock Co has an office at Van Thinh Phat office building at No. 8, Nguyen Hue, District 1, Ho Chi Minh City by Mr. Chan Ming Simon as legal representative. General Manager is Mr. Cheung Clarence Leonard. The main shareholders are: Alpha King Investment Limited (Hong Kong) holds 93.3%, two individuals are Li Yibin and Chiu Keung Kenneth each holds 3.3%.

        Mr. Chan Ming Simon is also the managing director of Golden Hill Investment. The company was established in 2015 with the chartered capital of VND 100 billion, contributed by three individual shareholders: Bui Duc Dung (40%), Mr. Tat Chi Chi (30%) and Mr. Luong Minh Han (30% ), Nguyen Van Thuy is the Chairman of the Board, based at 8 Nguyen Hue.

        In April, 2004, the company was merged with Ngan Binh Investment Construction Co., Ltd, then raised its chartered capital to VND2,798 billion. After merging with Ngan Binh, Golden Hill Invest also inherited the right to invest in the project of Golden Hill Complex at 87 Cong Quynh, Nguyen Cu Trinh Ward, District 1 with a land area of ​​8.320 m2.

        The Ngan Binh Building was licensed by the HCMC People's Committee in 2008, but due to financial difficulties, the former investor was suspended. The construction scale consists of two 35-storey towers and four basements.

        According to a report of the HCM City People's Committee, in 2012 the project has a population of 1,747 people, equivalent to 499 apartments. However, the owner proposed a design change with a population of 2,200 people, equivalent to 1,000 units. The status of the project is under construction with contractor Bauer.

        Alpha king Saigon Office

        In addition to the Ngan Binh project, Alpha King has completed the project at 289 Tran Hung Dao Street and 74 Ho Hao Hon Street, Co Giang Ward, District 1. This land was formerly owned by Duc Khai Company. called Momentum Tower and now renamed Alpha Town.

        The project area is 4,261.7 m2, building density 69.86% and tower block 41.96%, land use ratios are approved 12.94 times (5.64 times for apartments and 7.31 times for commercial office services).

        Recently, the HCM City People's Committee agreed to let the investor remove the function of apartments in order to build the works with the function of trade - service - office; increase the land use coefficient to 3 and keep the basement level with the parking function; Not to adjust the coefficient of land use functions commercial - service - office, to ensure the height of the works in harmony with landscape architecture in the area.

        Intelligence reports that Alpha King is planning to implement 11 high-rise projects in the heart of Ho Chi Minh City with the ambition to change the skyline of the city. Including projects such as SJC Tower, Saigon One Tower ...

        In May 2017, an architectural firm in Singapore said it was carrying out a project to complete the construction of a strategically located building at the Ham Nghi and Vo Van Kiet intersections of the developer Real Estate Development Corporation Alpha King Estate. This project is expected to be completed in 2018. With its location at the heart of District 1 of Ho Chi Minh City, this will be Grade A office buildings, high-end apartments and commercial centers. The highlight is the highest bar in Vietnam ...

        Some sources suggest that this is probably the Saigon One Tower project - a tower that has been dusted for many years by the Bitexco building. However, after that Saigon One Tower was VAMC seized and is about to start a new auction of more than 6,000 billion.

        Saigon gold land

        Another gold land project is also rumored to be Alpha King, a 2-4-6 Hai Ba Trung gold project (formerly known as Saigon Me Linh Tower). The project was approved to build 48-storey twin towers and 36 floors, 3 basements with a total investment of VND2,423 billion, on a land area of ​​about 6,000 m2.

        In 2008, the People's Committee of Ho Chi Minh City decided to hand over this "golden land" to Sabeco without holding bidding. Then, to invest in this project, in 2015 Sabeco contributed capital to establish Sabeco Pearl Investment Joint Stock Company as the investor of Saigon Me Linh Tower Project. At that time, Sabeco Pearl had chartered capital of nearly 484.7 billion dong, including 4 founding shareholders: Sabeco, Me Linh Investment Joint Stock Company, Attland Joint Stock Company and Trade Investment Joint Stock Company and Ha An Service. The company is run by Mrs. Le Thuy Huong.

        In 2016, Sabeco made a withdrawal of all 26% stake in Sabeco Pearl, a founding member of Attland, successfully auctioned for 13,347 dong / share, collected about 200 billion.

        Recently, in early February, the State Auditor has made an auditing report on Sabeco's financial status, asset management activities and use of funds in 2016. According to the report of the State Audit, the land of 2-4-6 Hai Ba Trung has been handed over to former enterprises, now through stock transfer, to the hands of Chinese businessmen.

        According to the latest information from the National Business Registration Portal, Sabeco Pearl has now been renamed to Me Linh Square Investment Joint Stock Company. It is worth noting that the four founding shareholders of the company have completely disappeared from their ownership of the company.

        At the same time, the legal representative and Chairman of the Board of Directors is Mr. Ngo Van An. According to private sources, Ngo Van An is the leader of the project development division of the Sunny World subsidiary of Van Thinh Phat Group.

        Mr. Ngo Van An is also the owner or legal representative of 8 companies from Hong Kong, including: Duc Khai 1 Real Estate Company Limited; Futures Trading and Investment Company Limited; Me Linh Square Investment Joint Stock Company; Duc Khang Joint Stock Company; Trade Wind Investment Joint Stock Company; Golden Hill Investment Joint Stock Company; Alpha Property & Asset Management Limited; East Saigon Project Development Management Joint Stock Company. Notably, entrepreneur Ngo Van An was also a shareholder at the Golden Hill 87 Cong Quynh project.

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