Oxley Holdings is recommending to sell its properties in Vietnam for a combined VND1.4 trillion ($84 million).
On April 27, the property group revealed that it is suggesting to sell the land at Thao Dien Ward, District 2 (presently Thu Duc City), in Vietnam’s Ho Chi Minh City for the price of VND350 billion.
The land has an area of 33,271 sq ft.
According to the team, a down payment contract has actually currently been become part of as well as a non-refundable down payment of VND35 billion.
The official contract will be signed by July 11, where it will certainly receive one more VND297.5 billion. The balance of VND17.5 billion will be received after the conclusion of the enrollment treatments.
The team has a 63.9% stake in the transaction via its subsidiary, Oxley MK Thao Dien Co
. Furthermore, the group has participated in a memorandum of understanding (MOU), where it will offer its 80% risk in Phu Thinh Land.
Oxley’s risk will certainly be cost the price of VND1.05 trillion. The figure may go through change after the buyer’s assessment of Phu Thinh.
Under the MOU, Oxley has actually currently obtained a refundable down payment of VND100 billion. The continuing to be balance will certainly be paid upon the execution of the formal arrangement. The MOU will certainly be terminated if the parties can not settle on the regards to the contract.
