Hung Loc Phat Real Estate Investment Corporation (Vietnam)

Established in 2009, the subject is a member specializing in investment, development and trading real estate projects of Hung Loc Phat Group. Currently, this group is active in 3 fields: real estate, energy and building materials.According to press sources, real estate accounts for about 70% of Hung Loc Phat Group's total revenue. In addition to Mui Ne Summerland, the subject is also known as the investor of many other projects such as Hung Phat Green Star (scale of 52,648 m2 at Nguyen Luong Bang Street (extended), Phu My Ward, District 7, Ho Chi Minh City), Hung Phat Silver Star (8,956 m2 at No. 156A, Nguyen Huu Tho Street, Phuoc Kien Commune, Nha Be District, Ho Chi Minh City), The Golden Star (7,270 m2, at No. 72, Nguyen Thi Thap Street, Binh Thuan Ward, District 7, Ho Chi Minh City). This company is often involved in legal scandals of the projects it invests in and develops.Competition in the real estate industry is increasingly fierce when the economy is on the downtrend and consumer demand is reduced, which affect the real estate businesses' revenue. Meanwhile, increasing input factors rise their operating costs. In addition, the regulator also tightened the money flow into risky sectors such as real estate to prevent the risk of asset bubbles and economic crisis. The above factors will reduce profit margins and create many difficulties for real estate enterprises in the coming time.