Quoc Loc Phat, SonKim Land and Vietcombank set up a strategic partnership for The Metropole Thu Thiem Project

Wednesday, 06 June, 2018

Ho Chi Minh City – On 05th June, 2018, Quoc Loc Phat Joint Stock Company (Quoc Loc Phat), SonKim Land Corporation ( SonKim Land) and the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) have signed the strategic cooperation agreement and officially kicked off The Metropole Thu Thiem Project in Thu Thiem New Urban Area (District 2, Ho Chi Minh City).

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The Thu Thiem New Urban Area is located to the east of Saigon River, has total area of approximately 657 hectares. Thu Thiem New Urban Area is expected to be a world-class center of finance and trade, the largest urban area in South East Asia. The urban development plan carefully integrates the existing natural landscape with the architectural constructions was meticulously planned by The City and Thu Thiem Management Board with the assistance of expert international planners. This new urban area will eventually accommodate a total residential population of 145,000 and employee population of 217,000, turning Ho Chi Minh City into a new megacity in the region when completed. This initiative will also meet the objective of turning this area into a new vibrant destination for residential, commercial and entertainment.

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Thu Thiem has excellent connections with all other centers of Ho Chi Minh City through 4 bridges (Thu Thiem Bridge No. 1,2,3 and 4); a pedestrian bridge and Thu Thiem Tunnel. In particular, according to plan, Thu Thiem will connect directly with center of District 1, not only in transportation but also in architecture, culture and shopping.

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Thu Thiem New Urban Area is in many ways similar to Sydney City, Australia. Sydney is famous for its two iconic architectual works - Sydney Opera House and Sydney Harbour Bridge. The delightful walk along the river stretches from Darling Harbour Marina to The Opera House has fascinated people. Thu Thiem New Urban Area will be one of a kind in Ho Chi Minh City that connects all old and new places within walking distance, such as New City Opera House, Convetion Center, Riverside Park, bringing the value of perfect life to the residents’ expectations.

The Metropole Thu Thiem Project consists of 4 plots of land with a combined total of 7.6 hectares. It’s catered for the high-end market as well as meeting the objectives of Thu Thiem Masterplan. The design of the project is inspired by the quintessential designs in Barangaroo (Sydney), East Circular Quay (Sydney), integrated to suit the Vietnamese context and culture. The Metropole Thu Thiem is promised to be a new destination for Saigonese, especially for those who love urban lifestyle as attractive as in New York, London or Sydney.

In addition, the design for this project will meet all sustainability criterias and energy efficient features. These are the top priority and determination to archieve of Quoc Loc Phat and SonKim Lan during the project implementation.

TThis strategic cooperation agreement will contribute to maximizing the strength of each Party in implementing and developing the project.

The Project Owner Quoc Loc Phat has the financial strength as well as investment capital from foreign shareholders. The authorities have approved for all legal procedures, land allocation, project investment for Quoc Loc Phat. And they has fulfilled financial obligations for the land lots in the project.

The Developer SonKim Land is a leading high-end real estate developer in Vietnam with deep understanding and experience about the market. With outstanding projects as Gateway Thao Dien, The Nassim and Serenity Sky Villas, SonKim Land is confident to successfully develop the Song Viet Complex Project in accordance with the standards of a smart and high-class urban area.

Vietcombank, a leading commercial bank in Vietnam with large source of fund and many years of experiences, will act as the main Capital Lender of the Project. The Bank will also offer the Bank Guarantee to buyers and provide mortgage loans to those buyers that need financing supports.

The cooperation between the three Parties will create a strong premise to bring The Metropole Thu Thiem truly become a high-end residential and commercial complex in line with expectations and expectations of the leaders. This event marks the first step for the parties to implement project, select the reputable design consultants and contractors in the market as well as sale agencies and companies for co-operation. However, the sale launch will be opened after finishing all necessary procedures.




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