Vietnam Leading Housing Developer to Set Up JV in U.S.
Thu Duc Housing Development Joint Stock Corporation, coded TDH, has got a license to set up a joint venture in the U.S. to provide housing services in the foreign country that has the largest number of Overseas Vietnamese in the world.
The Thu Duc House Property Ventures LLC is a joint venture between TDH and two U.S. firms - California Newland Ventures LLC and Nature Coast Horries of Central Florida LLC.
It has a total investment capital of US$6 million, of which TDH contributes US$3 million in cash, and a lifespan of 20 years starting from the beginning of July this year.
The joint venture will target customers in the states of California and Mississippi.
TDH reportedly earned a profit of VND188 billion (US$10.8 million) on revenues of VND600 billion (US$34.3 million) last year, respectively 31.54 per cent and 29.22 per cent higher than in the previous year. (Labor)
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