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Mystery buyer looks to acquire newly purchased Daewoo hotel

Update: April, 18/2012 - 12:51

HA NOI – Viet Nam's leading real estate broker SohoVietnam has received an order to buy the five star Daewoo hotel just a month after it was acquired by the HANEL Group, according to online newspaper Vietnam Economic Forum.

The Forum quoted SohoVietnam's chairman Phan Xuan Can as saying that a customer had placed an order to purchase the 411-room hotel.

SohoVietnam is currently mediating between HANEL and the interested party.

HANEL, one of the country's leading electronics makers, acquired the Daewoo hotel last month.

The Ha Noi Electronics Corporation bought a 70 per cent stake in the hotel from the Korean-based Daewoo Group.

There was no official statement made about the value of the deal, but a source said about US$100 million was paid.

The hotel, which opened in 1996, was a $177 million joint venture between Daewoo Corp and HANEL, which previously held a 30 per cent stake in the hotel.

Located at the western gateway of Ha Noi and adjacent to Thu Le Zoo, the hotel occupies a 29,500 sq m site.

The hotel was named among "Viet Nam's TOP 20 Building Designs" in 2008. – VNS

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