VINGROUP MOVES INTO AUSTRALIAN MARKET

Vingroup, Vietnam’s top property developer, has entered the Australian market after a $16 million land deal in Sydney’s central business district, according to The Australian newspaper.

It was reported that Vingroup will build a hotel complex in the city. A 172-room hotel was proposed for the 1,030 square metre land, but no approval has been given on the development. It is expected that Vingroup will probably construct a mixed use development including a hotel.

Vingroup’s property portfolio in Vietnam comprises luxurious condos and villas, shopping malls tourism complexes and also retail outlets.

Vingroup has three resorts in Nha Trang Bay and a 200-room Vinpearl Premium Da Nang hotel in central Vietnam.

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