Adventus Holdings pours $58.7m into Vietnam residential project
It will reap the property’s commercial benefits.
Adventus Holdings' subsidiary will acquire 100% of the commercial benefits for a residential property development project in Ho Chi Minh City, Vietnam, at a consideration of $58.7m.
The project, currently called VRG Riverview Apartments, is a semi-completed residential apartment building with freehold title.
It comprises two blocks with a total of 302 apartment units.
The funding for the Company’s share of Purchase Consideration will be through a mix of Company’s internal resources, sales proceeds from the sale of apartment units, and debt financing.