The investor, a large foreign direct investment (FDI) enterprise with numerous real estate projects across the country, aimed to transfer a part of their real estate project located in Binh Hoa Ward, Thuan An City, Binh Duong Province to other investors whose goal was to develop a 4-star and 5-star hotel complex. However, various legal obstacles have prevented this transfer from being completed for nearly a decade.
Since 2023, FIIVN has served as a comprehensive legal consultant for this transfer. We assessed the project's legal status and provided advice and support to the investor in overcoming the longstanding challenges hindering the transfer. In doing so, we identified the investor’s position in the Vietnamese real estate market and the potential legal risks that could arise if the transfer were conducted using the traditional method of transferring capital contributions or shares. Consequently, FIIVN advised the investor to follow the procedures prescribed in the Law on Real Estate Business and the Law on Investment for the transfer.
The People's Committee of Binh Duong Province issued an official decision permitting the investor to transfer a part of the project. This milestone reflects the collective efforts of all parties involved in finalizing a multi-year merger and acquisition deal, with FIIVN being a pioneer in consulting on the transfer procedures according to the provisions of the Law on Real Estate Business and the Law on Investment.