Local community celebrates ground breaking of saigon south riverfront villa project

Ho Chi Minh City, 7 November 2016 – Local officials alongside Mr Nguyen Ba Duong, Chairman of Coteccons, and senior management from VinaCapital Group today joined investment and development partners in Saigon South, Ho Chi Minh City to celebrate the ground breaking ceremony of Nine South estates final phase of the project.

Ceremonial ‘breaking of the ground’

General Director of Nine South estates Mike Gammel kicked off the ceremony by talking about the impact this development will have on the community. “As families move out of the city centre in search of a tranquil, family-focused environment to raise their children, Nine South estates riverfront homes will provide just that and more. Safe, quiet and convenient with fresh air and captivating activities for all age groups, this is the future of city living.”

Nine South estates representative speaks proudly about Nine South estates

The final addition of the project, to be built by Ricons, a subsidiary of Coteccons, will include 26 riverfront villas, a recreation club and the final 127 of the total 355 garden homes. The riverfront homes will be detached four-bedroom villas with private swimming pools, while the garden homes will have three or four bedrooms each. Within the community, residents will enjoy sport fields, two swimming pools, two gymnasiums, landscaped pathways and parklands throughout, a private library and multiple children’s areas.

“We wanted to pioneer in Ho Chi Minh City the more global trend of living a lifestyle in balance with nature without sacrificing modern amenities or conveniences,” Mr Gammel concluded.

Contracted by VinaCapital, Ricons has mobilised on site and been instructed the homes and recreation club must be complete and ready for handover by Q4/2017.

“We’re proud for this opportunity to work with VinaCapital,” said Ricons CEO Mr Le Mien Thuy. “We are determined to implement the project successfully while ensuring our continued commitment to quality, time and safety.”

Ricons expresses what a pleasure it is to be a part of the Nine South estates development

Located on a 400-metre stretch of the Tom River on 12.9 hectares of land with 13,000 square metres devoted to a riverfront parkland alone, Nine South estates homes are contemporarily decorated with open family spaces and tranquil private areas.

Nine South estates is found in the suburbs of District 7 with ease of access to a number of international schools, including the American School, Saigon South International School and RMIT, as well as retail shops, FV Hospital and such amusement facilities as SC VivoCity and Crescent Mall.


About VinaCapital Group
Founded in 2003, VinaCapital is a leading investment and asset management firm headquartered in Vietnam, with a diversified portfolio of USD1.4 billion in assets under management. VinaCapital's expertise spans a full range of asset classes including capital markets, private equity, venture capital, real estate and fixed income.

The firm has three closed-ended funds that trade on the London Stock Exchange: VinaCapital Vietnam Opportunity Fund Limited, which trades on the Main Market, as well as VinaLand Limited and Vietnam Infrastructure Limited, which trade on the AIM. Further, VinaCapital manages the Forum One - VCG Partners Vietnam Fund, Vietnam's largest open-ended UCITS-compliant fund.

Additionally, VinaCapital co-manages the DFJ VinaCapital L.P. technology venture capital fund with Draper Fisher Jurvetson and holds a stake in VinaWealth, a locally incorporated fund management company.

For more information, please visit www.vinacapital.com.

About Ricons Construction Investment JSC
As a member of the Coteccons Group, Ricons was founded in 2004. Initially, its major sector was real estate investment. Since 2008, the company's portfolio expanded into development.

With well-trained human resources, professional management and advanced technology, Ricons proven success can be seen in its number of large scale projects throughout the country.

For more information, please visit www.ricons.vn.

For more information, please contact:

Mr. Matthew Korioza
Director of Transaction, VinaCapital Real Estate
Email: matthew.korioza@vinacapital.com
Mobile: 0933 887 796

Mr. Lu Thanh Tu
Head of Sales & Marketing, VinaCapital Real Estate
Email: tu.lu@vinacapital.com
Mobile: 0903 030 543