The owner of Landmark 72 is selling 100% of the shares of Hanoi's tallest building for more than 1,000 billion won (more than 18,400 billion VND). Several large real estate and infrastructure fund management companies are considering buying the skyscraper located in Nam Tu Liem district.
According to Korea Economic Daily , Global Reinsurance Company Aon Plc - owner of Landmark 72, the tallest building in Hanoi and the second tallest building in Vietnam - wants to sell 100% of this real estate shares for more than 1,000 billion won (more than 18,400 billion VND).
According to the source of bank Seoul, South Korea-based reinsurance company listed on the New York Stock Exchange is in talks with potential bidders to sell its entire stake in a property located in Hanoi’s Nam Tu Liem district. Several major real estate and infrastructure fund managers are considering buying the skyscraper.
Now, South Korea's Mirae Asset Securities and shareholders in the three-building complex are eyeing a lucrative profit when Landmark 72 is put up for sale.
Aon Plc acquired the Landmark 72 building for 454 billion won (about 8,350 billion VND) in 2015 from SM Keangnam Enterprises Ltd., a company build mid-market from South Korea. That year, the reinsurance company won the bid after competing with Goldman Sachs and the Qatar Investment Authority (QIA).
At that time, real estate had the participation of many global investors, typically Mirae Asset (purchased 300 billion won of senior secured debt and 100 billion won of convertible bonds). Currently, Mirae Asset still holds the bonds and is considering converting the securities into common shares.
Landmark 72 is one of the largest real estate projects in Vietnam (about 608,946 m2). The real estate includes a complex of three buildings, including a 350-meter-high 72-storey tower and two 212-meter-high 48-storey twin towers. Before the Landmark 81 building (HCMC) appeared, Landmark 72 held the record as the tallest building in Vietnam.
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