An Duong Thao Dien puts the pedal to the metal

HAR has been stepping up M&A activities to acquire a sizeable land bank (Source:Bizlive)

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According to the latest information, HAR has announced its ambition to acquire at least 55 per cent stake of Orient Chemico Ltd.

Orient Chemico is known for specialising in manufacturing and trading in chemicals, such as detergents, perfumes, and cosmetics. Besides, it currently owns a 10,000-square-metre area with two frontages at the centre of Kim Bien Market in Ho Chi Minh City. District 5 People’s Committee granted the permit for the company to develop a shopping centre on this plot.

If the purchase is successful, Nguyen Nhan Bao, HAR general director, will join the management board of Orient Chemico, while simultaneously obtaining the advantage in developing the shopping centre by seizing a controlling stake in Orient Chemico.

In late July, HAR announced completing the purchase of a 45-per-cent-stake in Banking Mechanical JSC, which specialises in producing and trading professional products and services, facilitating money, gold, and silver storage and circulation to ensure absolute safety for the banking and treasury system and individuals as per request.

HAR’s move aims to put a hand on Banking Mechanical JSC’s land funds, including frontage lands in District 5, Phu Nhuan district, as well as the 2,317-square-metre area at the corner of Nguyen Trong Tuyen and Pham Van Hai streets.

Along with HAR’s acquiring enterprises operating outside the real estate market to take over their valuable land plots, in early July, HAR decided to wholly acquire the 100 per cent foreign-owned Nha Trang Coral Beach Resort Company Limited, which is the investor of the 13.5-hectare Nha Trang Coral Beach Resort.

HAR is involved in the development, trading, and leasing of real estate. It specialises in residential project development, including apartment buildings, student dormitories, and hotels.

HAR has developed four projects in Ho Chi Minh City, including Glenwood Plaza in Thao Dien Centre, Aurora Hotel, Glenwood Maison, and Hi-end Park Apartment.