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Giấy phép số 4978/GP-TTĐT do Sở Thông tin và Truyền thông Hà Nội cấp ngày 14 tháng 10 năm 2019 / Giấy phép SĐ, BS GP ICP số 2107/GP-TTĐT do Sở TTTT Hà Nội cấp ngày 13/7/2022.
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A joint venture involving Ho Chi Minh City’s State Capital Investment Company (HFIC), REE Group, and VinaCapital has submitted a proposal to the Ho Chi Minh City People’s Committee to invest in the IFC-99F tower in Ho Chi Minh City.
The proposed development would be built on a 10,000 square meter site in the Thủ Thiêm international financial center core. The tower is planned to have 99 above-ground floors and five basements, with total investment expected to reach about 1.15 billion USD.
Equity is expected to account for 6,058 billion VND of the total investment. REE would hold the largest share of equity at 43%, equivalent to about 2,605 billion VND.
HFIC would participate with 33% of the equity, equivalent to nearly 2,000 billion VND, through the value of land-use rights in the core Thủ Thiêm area.
VinaCapital Group would hold 24% of equity, amounting to more than 1,454 billion VND. VinaCapital is also responsible for arranging 80% of the remaining mobilized funds.
According to REE’s 2025 annual report, the company posted net profit after tax of 3,149 billion VND, primarily driven by renewable energy and wind power. REE also reported cash and cash equivalents of around 6,000 billion VND, which the proposal indicates is sufficient to meet its equity contribution for the tower.
HFIC’s 2025 audited financial statements show total assets of 12,667 billion VND and after-tax profit of 962.1 billion VND. The company also has cash of 4,797 billion VND, supporting its role in the consortium.
VinaCapital currently manages entrusted assets of about 3.7 billion USD, equivalent to over 97,465 billion VND.
In addition to the tower project, HFIC is coordinating with CII on key transport projects with total investment of about 10,000 billion VND along major city corridors.
VinaCapital has also participated in high-tech infrastructure projects, including a 2.1 billion USD AI data center inaugurated in Ho Chi Minh City.
The proposal highlights that the ability to attract international capital is a key factor in securing funding for the 99-story IFC-99F tower.

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