HK-based project management company inProjectsGroup sold 50 percent stake in VinaProjects Co. Ltd, a real estate services firm based in Vietnam, to its former partner VinaCapital Group Limited in May, according to VinaProjects.
VinaCapital will continue to maintain a strategic relationship with inProjectsGroup, allowing for joint bidding on appropriate projects in Vietnam and other countries within the Indochina region.
"Our decision to sell our stake in VinaProjects is part of an overall strategy to refocus our company on core high growth services and sectors. We have gained tremendous experience and have been integral in the delivery of some truly world class projects in Vietnam. We are proud of the part we played in developing VinaProjects as Vietnam’s leading project management consultancy and are pleased to be able to build upon our very close relationship as we continue to partner on suitable retail, leisure and hospitality projects. Our businesses enjoy a close and unique bond which will combine to provide formidable capability and experience for future clients. We look forward to a long and successful relationship with the team at VinaProjects," said Matt Fletcher, CEO of inProjectsGroup.
Established in December 2009 as a joint venture between VinaCapital and inProjectsGroup, VinaProjects offers professional project and construction management, urban planning and facilities management services to the Vietnamese market. The real estate services firm has delivered landmark urban development projects in cities across Vietnam, including Hanoi, Danang, Nha Trang and Ho Chi Minh City.