A construction company won the bid for 5 social housing projects abroad.

Hoa Binh Construction Joint Stock Company (Hoa Binh Construction, stock code: HBC) has just announced that it has won the bid for 5 social housing construction projects of the Ministry of Lands, Public Works, Housing and Urban Development of Kenya.

Accordingly, Hoa Binh Construction is the general contractor for the design and construction of houses and infrastructure for units including Embakasi General Service Training School, Ruiru Police Headquarters, Buruburu General Service Training School Headquarters, Kiganjo National Police Training School, and Kenya Technical University.

A project implemented by Hoa Binh Construction

Mr. Le Viet Hai, Chairman of the Board of Directors of Hoa Binh Construction, said that the 5 projects have a scale of 3,400 apartments, with a total investment of about 72 million USD.

According to Mr. Hai, Africa is a large construction market with potential in the future. Hoa Binh Construction will focus on building social housing projects, gradually moving towards high-end products. The company chose Kenya as its first target market in this continent.

In addition, the company also received invitations to enter the next round for two other social housing projects in Kenya after passing the survey round on the reputation and capacity of contractors. These two projects have a scale of about 6,200 apartments with a value of nearly 92 million USD. If winning the additional bids, the total value of Hoa Binh's social housing construction contracts in Kenya will reach 163.6 million USD.

Hoa Binh Construction leaders said the company has identified a 5-year strategy to accelerate project implementation in foreign markets, specifically the US, Vanuatu, Australia, and Africa. Of these, Africa has the most potential because it has an abundant workforce. Hoa Binh Construction expects to record revenue in foreign markets of 1 billion USD by 2028.

Receiving positive information, HBC stock price on the stock exchange increased by 7% to 9,200 VND/share in the session on February 20. At the end of the session, this stock still increased by 5%, reaching 9,030 VND/share.

Source: https://nld.com.vn/mot-doanh-nghiep-xay-dung-viet-nam-trung-thau-5-du-an-nha-o-xa-hoi-o-kenya-196240220155025793.htm