Enterprise with capital of 10 billion VND sells luxury apartments for 200 million VND/m2

Recently, the Hanoi Signature project (Cau Giay district, Hanoi ) announced the lowest apartment price of 97 million VND/m2, the highest of 219 million VND/m2. This project was originally named D'.Palais de Louis by Tan Hoang Minh Group and started construction at the end of 2009. This project was introduced to have a scale of 27 floors and 4 basements, with a total of 242 luxury apartments.

The project is designed in classic French and Italian architectural style with apartment area of ​​120.9-260.8m2 and 2 penthouses of more than 1,000m2.

This project started construction in late 2009 and was expected to be completed in 2013. In 2011, the opening price was about 145 million VND/m2. Due to not being able to hand over the house as committed in 2015, in December 2014, Tan Hoang Minh decided to pay money (including interest) to those who wanted to liquidate.

In 2016, the project was re-opened for sale with an advertised price of under 100 million VND/m2. However, to date, the apartments have not been handed over to customers.

Last April, the project was then transferred to the new investor, Ramond Holdings Real Estate Investment and Trading Joint Stock Company. This company was established on December 4, 2023 with the original name of Newlands Real Estate Investment and Trading Joint Stock Company. The main business lines are real estate consulting, brokerage, auction, and land use rights auction.

The charter capital when it was first established was 10 billion VND and has been maintained to this day. The company is headquartered at 24 Quang Trung, Tran Hung Dao Ward, Hoan Kiem District, Hanoi City. This address coincides with the headquarters of Tan Hoang Minh Group.

The capital contribution to establish the company came from 3 individuals. Ms. Nguyen Anh Sa contributed 3.5 billion VND (equivalent to 35% of the charter capital), Mr. Do Hoang Minh contributed 3.5 billion VND (equivalent to 35%) and Ms. Pham Thi Lan Phuong contributed 3 billion VND (equivalent to 30%). Ms. Sa and Mr. Minh are the children of Mr. Do Anh Dung - former Chairman of Tan Hoang Minh.

Shareholder structure contributing capital to establish Ramond Holdings Real Estate Investment and Trading Joint Stock Company (Screenshot).

At the time of establishment, Ms. Pham Thi Lan Phuong (born in 1979) held the position of General Director and Legal Representative of this company.

On March 20, the company changed its name to Ramond Holdings Real Estate Investment and Trading Joint Stock Company. In the latest business registration, the legal representative position was added to 2 more people.

Mr. Do Hoang Minh (born in 1988) holds the position of Chairman of the Board of Directors. Mr. Tran Van The (born in 1982) holds the position of Deputy General Director. Ms. Lan Phuong still holds the position of General Director.

On the website, the company introduces itself as operating in the development of complex urban areas, residential real estate, resort real estate, commercial real estate, and industrial city real estate.

Source: https://dantri.com.vn/bat-dong-san/doanh-nghiep-co-von-10-ty-dong-ban-chung-cu-cao-cap-200-trieu-dongm2-20240930202351841.htm