Tower goes to auction, with a winning price of $33.68 million.
The An Cu Co., a real estate management firm, won the recent public auction to acquire Hoa Binh International Tower, for VND735 billion ($33.68 million), Mr. Nguyen Huu Duong, Chairman of the Hoa Binh Group - the tower’s investor - confirmed with VET.
There were five companies in the auction, including the Hai Phat Investment JSC, the An Quy Hung Co., the Van Phu-Invest JSC, the Van Minh Import Export Co., and An Cu. The starting price was VND705 billion ($32.3 million).
Located on Hoang Quoc Viet Street in Hanoi’s Cau Giay district, the office for lease tower comprises 22 storeys and two basements on an area totaling 1,512 sq m. Annual turnover from office space for lease and advertising in the tower, which was put into operation in 2006, is estimated at around $3 million.
An Cu Co. specializes in distributing and leasing high-end real estate products in projects in Hanoi, including Imperia Garden in Thanh Xuan district, Palais de Louis in Cau Giay district, and the Gold Silk Complex in Ha Dong district, among others.