Bau Duc Explains His Return to Real Estate: The Land Forgotten by HAGL for 15 Years Due to “Being Too Rich” Might Now Be Sold to Repay Debt

In an interview, Bau Duc, Chairman of HAGL, explained his decision to return to real estate, despite previously claiming he would not. He discovered a piece of land the company had owned for over 15 years, stating that they had been too “rich” to remember it. The announced project is the Phu Dong complex, which includes high-rise housing and a commercial center, with a total investment of about 400 billion VND. Bau Duc emphasized that this is just a small project aimed at contributing to local development, not an expansion into real estate. Concurrently, HAGL is proposing a eco-tourism and golf course project in Gia Lai and has received support from the provincial People’s Committee. He acknowledged that this move might contradict his promise to shareholders but views it as a good opportunity after rediscovering the land.