On January 18th 2015, in Ho Chi Minh City, Dat Xanh Real Estate Services and Construction Joint Venture Company (Dat Xanh) and Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietinbank) have signed comprehensive cooperation, marking an important turning-point in promoting effective business solutions to parallely create many positive benefits for the society.
The agreement to cooperate comprehensively between Dat Xanh and Vietinbank aims at promoting the advantages of each party in the fields of operation and business, directing to the target to be come main partner of each party in the process of operation and development according to many items: credit, non-credit, capital contribution investment, bond investment, M&A consultancy, insurance and project finance product supply. Accordingly, the total value of credit amounts signed in 5 years (period from 2015 to 2020) is VND 20,000 billion (equivalent to nearly VND 1 billion) allocated evenly VND 4,000 each year. The meaning of comprehensive cooperation will consist of the commitment of Vietinbank to sponsor Dat Xanh, customers and partners of Dat Xanh on credit products of VietinBank.
The Signing comprehensive cooperation between Dat Xanh and Vietinbank is to increase operation scale, increase value for customers and cooperation for leading. In the framework of comprehensive cooperation, Dat Xanh and Vietinbank undertake to use products, services of each other on the basis of complying with the provisions of current law, charter and financial capacity of each party. Besides, contractors, providers, partners and customers of Dat Xanh also are supported with credit and related financial solutions by Dat Xanh.
Highly appreciating the comprehensive cooperation with Vietinbank, Mr. Luong Tri Thin - Chairman of BOD cum CEO of Dat Xanh confirmed: "Vietinbank has a longstanding history, experience and prestige in the country and overseas through supplying traditional and modern banking services with high quality, with the network of 150 branches in the whole country. The concomitance of Vietinbank in general and branches under the system of Vietinbank in proper, together with Dat Xanh in 3 regions of the country will cooperate to create resonant power, in order to realize the dream of owning modern houses of Vietnamese people, together contributing for the development of the country. On the other hand, in the recent years, Vietinbank has proven its ability to provide effective financial solutions, great and fast financial source arrangement with preferential conditions, careful customer care programs. As the case of SunView Town riverside complex project (Thu Duc District), Dat Xanh and Vietinbank had a good collaboration to help customer to buy houses by installment and borrow VND 30,000 billion package. Up to present nearly 1200 Sunview Town apartments have had its owners. In the development strategy of Dat Xanh in the period 2015-2020, together with the commitment to sponsor credit capital of Vietinbank, Dat Xanh has prepared a lot of clean land fund to invest in developing the types: high-class apartment project, ground base, street house, villa, resort, etc.. We target on ensuring average transaction product amount of 8000-10000 products/year”.
Chairman cum CEO of Dat Xanh Group gave a speech at the ceremony
Mr. Le Duc Tho, CEO of Vietinbank shared: Vietinbank witnessed the strong development steps of Dat Xanh in the real estate market. Dat Xanh is an important strategic partner, having closed and long term relationship with Vietinbank. Dat Xanh and Vietinbank together have passed difficulty and challenge to develop and be strong as today. This comprehensive investment cooperation ensures to balance the overall benefits of each party, enhance business effectiveness, and promote growth and cooperative force in the market. This simultaneously helps to exploit available advantage, capacity and experience of the two parties””.
Starting with short term targets in the comprehensive cooperation signing ceremony with Vietinbank, at the first period, Dat Xanh and Vietinbank will sign credit contract to sponsor and guarantee the construction capital for CT15 project (in Viet Hung Urban Area, Long Bien District, Hanoi) with the total area of nearly 16000 m2, planning to construct 406 apartments with the total investment capital about VND 700 billion, being deployed in Quarter 1/2015.