RICONS CONSTRUCTION INVESTMENT JOINT STOCK COMPANY
On the morning of April 19, Ricons, Novaland, and Tien Phong Commercial Joint Stock Bank (TPBank) signed a deal on cooperation in the building and completion of The Grand Manhattan apartment/commercial/service complex project (District 1, HCMC).
The deal states that TPBank will provide funds for The Grand Manhattan to resume building after the suspension period, as well as a loan package for house buyers.
The government has taken care of the licensing of The Grand Manhattan project, the money flow has been cleared, and the capital has been funded. The success of this real estate project implies a significance grander than a mere re-initiation.
This is undoubtedly a positive sign from the efforts of the entire operating system – from drastic decisions well thought out by the Government to the cooperation and companionship of all parties involved (local agencies, organizations, financial enterprises, and all the construction enterprises), as well as the continuous efforts of real estate enterprises in the pursuit of a safe and sustainable environment for growth.
The Grand Manhattan apartment complex – Trade and service was developed on a 14,000 m2 plot in a prime location with two fronts, Co Giang and Co Bac, in the center of District 1. When completed, the project is expected to provide the market with over 1,000 luxurious and modern flats.
To the present moment, The essential infrastructure, the foundation, the basement, the body up to the 28th level, and various utility items, such as the actual model house at the project, have been finished.
Mr. Nguyen Thanh Tam, Managing Director of Ricons, stated during the ceremony, “In the context of the difficult market, The Grand Manhattan was still considered and financed by TPBank to restart construction.” This is a measure that demonstrates that the government cares and is working to alleviate issues in the real estate market. As a result, Ricons, as a general contractor with a strong reputation and brand, will work with investors and banks to prioritize and focus resources on implementing and finishing The Grand Manhattan project. The Grand Manhattan was completed on time, with the quality and safety of the work fulfilling the needs and expectations of the Novaland Group.
