PMH Property

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 Phu My Hung Development Corporation (“PMH” or the “Company”) is a Vietnamese property developer and operator with its flagship being the development since the late 1990s of the Phu My Hung township at District 7 in the outskirts of Ho Chi Minh City (“HCMC”).IFC will provide a Vietnamese dong-denominated bond of up to US$75 million equivalent to be used by PMH for the development of the following projects: (i) urban residential and commercial developments in HCMC,  such as the Saigon South Residences in Nha Be, over a total of ~24.75 hectares of the company’s existing urban landbank in the Phu My Hung township and nearby urban areas not requiring physical or economic displacement of population; and (ii) the Phu Hung Khang ecological township project (“PHK eco-township”) in Hoa Binh, 57 km west of Hanoi (jointly “The Project”).Some of the projects in HCMC, such as the Saigon South Residences, are in advance stages of construction, while others are in early planning stages.  The PHK eco-township project near Hanoi is in early planning and permitting stage with construction targeted to start by 2020. The PHK eco-township will cover an area of 405 hectares surrounding the Dong Bai Lake and will be developed over a period of 20 years. The project will include the construction of a 75-rooms hotel to be operated by an international brand, residential villas; and a two km-long access road to connect with a nearby national highway with an alignment still to be decided.