LNT & Partners is honoured to have advised PetroVietnam Power Corporation (PV Power), Vietnam's second largest power producer, on the sale and purchase contract of DLC Complex Project's office building with DLC Real Estate Co., Ltd (DLC).
This is one of the first real estate transactions to apply the new Decree providing detailed regulations on the Real Estate Business Law, therefore, there were many legal issues that must be examined and considered carefully to ensure the contract as well as the transaction comply with the new regulations. Despite those challenges, LNT successfully assisted the parties in handling all the issues that arised including gaining the approval of relevant agencies and those that involved third parties such as the bank financing the project.
Given its prime location, convenient traffic networks, and modern infrastructure system with a total floor area of up to 25,000m2, the DLC office building is highly competitive, raising the quality standards of premium Grade B office space in the market. The signing ceremony of the sale and purchase contract of the DLC office building is a significant milestone marking the strategic cooperation between PV Power and DLC in putting a deluxe Grade B office building of the most prominent class in Thanh Xuan district into operation.
The project team was led by our partner VU Thanh Minh assisted by associate NGUYEN Dieu Quynh.
Press release: LINK