On June 16, 2023, SonKim Land and Rite Constructions, a reputable Australian construction company, joined forces by signing a Memorandum of Understanding on a strategic cooperation agreement. This milestone event highlights the spirit of collaboration between Vietnam and Australia, fostering economic growth and investment opportunities. It marks a new chapter in the bilateral relationship following the visit of Australian Prime Minister Anthony Albanese to Vietnam in early June 2023.
Under this agreement, SonKim Land and Rite Constructions will leverage their expertise, knowledge, and strengths to develop real estate projects in New South Wales (Australia) and Ho Chi Minh City (Vietnam). Both parties are committed to prioritizing quality and sustainable development, laying a strong foundation for their collaborative endeavors.
Rite Constructions, specializing in infrastructure construction, brings a wealth of experience and expertise in transforming Australian cities, successfully shaping the urban landscape with impactful projects such as Airport Links, Olympic athletes village, and Kings Cross Tunnel.
On the other hand, SonKim Land has established itself as Vietnam’s premier real estate developer. With a robust operating model based on Investment (Asset Management), Project development and Property management, SonKim Land effectively takes control in every aspect of the real estate business and develops an elevated capability for cooperation and competence.
Together, the combined strengths of Rite Constructions and SonKim Land create a formidable partnership, poised to bring innovative and sustainable development to the housing sectors in both New South Wales and Ho Chi Minh City.
Mr. Paul Talone, CEO of Rite Constructions, expressed his enthusiasm regarding the partnership, stating, “We are thrilled to have found a partner in the Vietnamese market that aligns with our operational principles. Collaborating with SonKim Land is both a privilege and an honor as we embark on a journey to capitalize on opportunities in the Australian and Vietnamese markets.”
For his part, Mr. Nguyen Hoang Tuan, Chairman of SonKim Land shared: “Rite Constructions brings valuable expertise in construction and infrastructure development, which, when combined with SonKim Land’s proven project development capabilities, will result in remarkable ventures bearing the unique imprints of both companies. Moreover, it demonstrates the spirit of bilateral cooperation between Vietnam and Australia.”
Of an important note, SonKim Land’s pioneering vision in developing Transit-Oriented Development (TOD) and Smart City projects opens up exciting opportunities for collaboration. These areas of expertise provide a platform for the exchange of experiences between the two sides, laying the groundwork for the development of diverse projects in both Vietnam and Australia of various scopes and categories.