Tập đoàn ASV Holdings

Dated January 29th. 2010 An Giang Real Estate Joint Stock Company (ARES) held the ceremony of launching Chau Doc Festival City Project. The project is is officially announce as a joint venture between Nhu Y Private Enterprise and An Giang Real Estate Joint Stock Company for the project of a total area amounted to 100 hectares winning the bids converting Security and Defense Land into Socio-Economic Development land amounted to 72 hectares, whereby remaining 28 hectares of land was acquired from private land owner. The joint venture has completed the acquisition of land use rights amounted to VND 200 billion with An Giang Provincial People's Committee granted the certificate of land use rights. The Architecture plan has been review and approved by the Department of Construction of An Giang People's Committee on decision dated 2006. The ground leveling has achieved 70% of the set volume amounted to use of 3 million m3 of river sand filling. With both investments that to date company has invested totaling to VND 500 billion. The project is projected to complete its basis infrastructure by late 2010 with total investment of amounted to VND 1,500 billion.

Company it please to announce the handover dated January 29th. 2010 amounted to 323 housing lots to EMHI (Taiwan) for details construction of housing whereby this amounted of 323 units housing lots is only accounting for 30% of total availability of the housing project.

In conjunction with the event, company also announced the launch of its Real Estate Office at the project site which includes area for MHB Banks and Chau Doc Investment office that create favorable conditions enquiry and licensing for customer and investor whom may be interest into purchasing or investing into the project area. The event were further announce onto the construction of International University invested by an Australian University for campus capable to cater amount within 1,000 to 1,500 of local and foreign students.

On the same occasion AAA&Vinamotor Corporation announcing the launched of its Rest Area Project at the project site that includes 4 Stars Hotel, Restaurants, Bus & Transportation Terminal, Petrol Station and other Rest Area facilities with a scenic lake view.
Mr. Pham Vinh Thao (ARES General Director) highlighted "Although the project was started during the time of economic crisis, but with the assistant granted by State Development Bank of the Mekong Delta couple with the efforts of Nhu Y Private Enterprise and ARES has achieved the capability to build basic infrastructure that enable secondary investors progress into developing the project. On top and above, company is proud to announce its implementation of the project has meet the standard urban city planning type I with State agencies competent for approval.