Ree Land’s project has a planned total area of over 19,375.2 square meter with an estimated total investment of over 1,107 billion VND.
The People’s Committee of Thai Binh Province has recently recognized the auction results for land use rights and acknowledged REE Real Estate Limited Liability Company (REE Land) as the investor for the commercial housing development project in Bo Xuyen Ward, Thai Binh city. This project occupies the former site of the Military Command of Thái Bình Province. The winning bid for the land was 389 billion VND.
The project spans a total planned area of over 19,375.2 m2, including approximately 19,131 m2 for residential use and around 245 m2 for commercial services.
As per the plan, the investor will construct two housing categories for sale, comprising linked houses/villas and high-rise commercial housing (apartment buildings), named The Light Square.
Previously, in November 2022, the Land Development and Resource Technique Center under the Department of Natural Resources and Environment of Thái Bình Province announced the auction for the land use rights for this project.
The project is planned to be financed through the investor’s equity and other legally mobilized sources.
The total estimated investment for the project is over 1,107 billion VND. This includes 17 billion VND for the construction of technical infrastructure facilities, 61 billion VND for the construction of low-rise residential buildings, 981 billion VND for high-rise commercial housing, etc. The starting price for the land use rights auction was over 300.7 billion VND.
Regarding the investor, REE Land, it is a company owned 100% by Refrigeration Electrical Engineering Corporation (REE) and was established in 2006 with its headquarters in Tân Bình District, Ho Chi Minh City. The company currently invests in real estate and is expanding its investments in market segments such as residential, community, office, commercial services, and industrial infrastructure in major cities.
REE Land is also investing in four member companies: Song Mai Real Estate Joint Stock Company, Tân Hải Real Estate Joint Stock Company, Song Long Real Estate Joint Stock Company, and Saigon Real Estate Corporation (Saigonres – Code: SGR).
Source: Hương Mai – Chuyên trang của Tạp chí điện tử Kinh tế Chứng khoán Việt Nam
