Indochina Capital’s formative years were devoted to providing fund raising, property brokerage, and project development advisory services to offshore clients. In addition, Indochina’s principal real estate activities began in 2002 when we commenced the development of The Nam Hai, Hoi An, Vietnam’s first super-luxury resort with branded residences.
Indochina Capital played the role of financial and development advisor for a group of French doctors, which involved the funding and construction of the FV Hospital in Saigon South. FV Hospital is Vietnam’s first international standard hospital. Indochina Capital put together a syndicate of lenders including the IFC, the ADB, Proparco (a French development agency) and BIDV (one of the major Vietnamese state banks). The debt was the first completely non-recourse project financing for a foreign development in Vietnam. Funding closed in 2001 and the hospital opened in 2003.
In 2003, Indochina Capital arranged the sale of two of the most prominent commercial properties in Vietnam, Sun Red River Building in Hanoi and Zen Plaza in HCM City, representing Japan’s Hasegawa Corporation.