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Vinhomes buys out central region property developer

By Minh Son   October 2, 2023 | 11:57 pm PT
Vinhomes buys out central region property developer
Residential area of Vinhomes Central Park in Ho Chi Minh City. Photo by Shutterstock/Ho Su A Bi
Property giant Vinhomes has bought out Ca Tam Tourism Joint Stock Company, owner of a villa-apartment project in the central Khanh Hoa Province.

Vinhomes and its subsidiaries bought the remaining 51.33% of Ca Tam’s shares for VND198 billion (US$8.4 million) in May to increase their ownership to 100%, according to their audited half-yearly financial statements.

Ca Tam developed the 15-hectare Cam Ranh Bay Cottages project on the Cam Ranh peninsula.

Vinhomes had bought more than 48% of the company’s shares in early 2022.

Ca Tam was established in 2014 as a tourism company, but in 2016 changed its main business to real estate.

 
 
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