Viva Land expands portfolio with a range of projects
Viva Land expands portfolio with a range of projects
The real estate group Viva Land – which was established in 2020 – is expanding its portfolio at lightning speed with a range of new projects.
During the week of August 15, Viva Land added the PEARL project to its management and development portfolio.
The PEARL was originally known as One Central HCM. At a scale of 8,600 square metres, it drew investment from Bitexco Group in 2013.
After the construction of the basement, the project had to be paused for many years before being rebooted in 2020 by the developer Masterise Homes – the developer of many luxury projects in Vietnam.
However, after building the podium and some floors of the two towers, the project continued to be delayed from the beginning of 2022.
Now, Viva Land has replaced Masterise Homes as the developer and project manager, assigning it the new name of PEARL.
Before the PEARL, Viva Land surprised the market by adding two blocks of the super project Tuan Chau Island in Quang Ninh province owned by Tuan Chau Group to its management.
Viva Land also became a project developer of The Landmark (13,000sq.m) in Haiphong City.
In Ho Chi Minh City, Viva Land is revitalising the long-delayed Saigon One Tower in District 1 with the new name IFC One Saigon after more than ten years of delays.
In addition, the project portfolio of this group also includes the 118-hectare mixed-use development Saigon Peninsula in District 7, comprising high-rise apartments, villas, shophouses, commercial zones, a cruise terminal, and amenities.
Other notable projects include an office in District 4 and an apartment project in Thao Dien district of Thu Duc City.
Although only recently appearing in the real estate market, Viva Land impressed with major project acquisitions. Earlier this year, the group spent $550 million to buy back the Capital Place office building in Hanoi.
Established in May 2019, Viva Land was originally called Cirius Power Company with the registered charter capital of $87 million. In February 2020, the developer changed its name to Viva Land.
While the shareholders are all little-known individuals, the leaders of Viva Land are now veterans in the real estate market.
The current chairman of Viva Land is Chen Lian Pang, former general director of CapitaLand Vietnam, and company CEO Eddie Lim has 25 years of experience working as a high-ranking official at CapitaLand.
