On 10/08/2023, at the Phuc Hung Holdings office, Lac Viet Group and Phuc Hung Holdings held the signing ceremony of the General Contractor Agreement for construction of the Imperial Oasis Quy Nhon project in Cat Tien town, Phu Cat district, Binh Dinh province.

Since receiving the invitation to bid for the Imperial Oasis construction package, the senior leaders of Lac Viet Group and Phuc Hung Holdings have held many meetings and working sessions and found many similarities in strategic orientation, corporate culture and long-term goals between the two sides.

On that basis, on 22/06/2023 at the InterContinental Hanoi Westlake Hotel, the Chairman of Lac Viet Group and the Chairman of the Board of Phuc Hung Holdings signed a Memorandum of Understanding on Strategic Cooperation to implement the Imperial Oasis Quy Nhon project, identifying Phuc Hung Holdings as the main general construction contractor of the project, on the principles of equality, goodwill, efficiency and long-term commitment.

Next, on 18/07/2023 at the Lac Viet Group office, the senior leaders of both sides met and agreed to sign a Working Minutes setting out the most important framework terms for the project’s General Construction Contract. Immediately after agreeing on those minutes, on the same day, 18/07/2023, Lac Viet Group issued Notice No. 1/7/2023 announcing that Phuc Hung Holdings had won the project’s construction bid. After receiving the notice, Phuc Hung Holdings’ site command team promptly mobilized and prepared to start construction. On 02/08/2023, the groundbreaking ceremony of the Imperial Oasis project was solemnly held in Cat Tien town, Phu Cat district, Binh Dinh province.

After a period of working and exchanges, on 10/8/2023 the signing ceremony of the General Contractor Agreement for the Imperial Oasis Quy Nhon project took place successfully, witnessed by the leadership of investor Lac Viet Group – Mr. Tong Duc Hieu – and the Chairman of the Board of Phuc Hung Holdings – Mr. Cao Tung Lam – together with representatives of the leadership and heads of departments and boards of both sides.

The Imperial Oasis Quy Nhon project is a large-scale project with a total investment of more than VND 2,300 billion, developed on a total area of 8.9 ha with European architecture on the central coast. The project received the “National Urban Planning Gold Award” voted by the Vietnam Urban Planning and Development Association and is located in one of the most valuable positions in Cat Tien urban area, right at the gateway of Nhon Hoi economic zone. The project is designed on the model of a long-term-ownership Coastal Commerce and Services Oasis, offering premium, luxury experiences with 3 product types: Shop-house, Shop-tel and Boutique Hotel. It promises to become Quy Nhon’s leading new destination and a future symbol of the coastal city, affirming the position of the “Maldives of Asia” on the global tourism map. With high-end construction standards and many distinctive architectural highlights, it will be not just a construction work but a heritage that lasts through time.

The package built by Phuc Hung Holdings has a provisional value of nearly VND 900 billion. The construction schedule is 28 months, divided into 04 phases as follows:

– Low-rise works in zone TM04 are divided into 2 phases of 7 months each. The 7 show houses alone are completed in 4 months;

– Low-rise works in zone TM03 are built simultaneously in 1 phase of 7 months;

– The hotel block begins construction as soon as the rough structure of the low-rise block is finished, with a schedule of 10 months;

– The viewing tower is built in parallel with the low-rise block;

– Technical infrastructure items are completed up to the C19 asphalt concrete layer in 5 months.

At the signing ceremony, Mr. Tong Duc Hieu – Chairman of Lac Viet Group stressed the importance of the role and responsibility of general contractor Phuc Hung Holdings to the project’s success. He also emphasized that the two sides will continue to cooperate with the highest sense of responsibility to turn the commitments into the highest-quality product on the market.

On the contractor’s side, Mr. Cao Tung Lam – Chairman of the Board of Phuc Hung Holdings thanked Lac Viet Group for its trust and expressed his appreciation for Lac Viet Group’s investment decision to create a branded product of value and quality amid today’s still difficult socio-economic conditions.

Mr. Cao Tung Lam affirmed that, being trusted by Lac Viet Group to “entrust gold to the right person” as general construction contractor, in the spirit of “Building your home as if building our own”, Phuc Hung Holdings is following Lac Viet Group’s ideas to create products that crystallize the intellect of the people of Phuc Hung Holdings. It also committed to mobilize maximum human and equipment resources with the highest professionalism, and to coordinate closely with the Group and the supervision consultant to carry out the package, ensuring quality, schedule and safety and meeting the investor’s requirements.

During the signing ceremony, Lac Viet Group’s leadership visited Phuc Hung Holdings’ office, whose unique design sets it apart as a green office space close to nature. The leaders of the two companies continued to exchange views on many topics toward a lasting cooperation in the future.