According to The Chairman of Rita Võ, Mr. Vo Mau Quoc Trien, his company will commence the construction of several luxury condominiums in Ho Chi Minh City and a 5-star hotel in Phu Quoc.
At the same time, Rita Võ will export a large number of "Made in Vietnam" products. Rita Võ, on the other hand, will not abandon its core business of distributing building materials and furniture.
The Chairman, Vo Mau Quoc Trien, informed that after achieving success and sustainable development in the distribution market of furniture products and construction materials with the largest market share, Rita Võ has decided to expand into the luxury real estate sector as well as to broaden its market overseas.
"From furniture distribution to construction materials, doing business must have a certain charm for me. Furthermore, my venture into luxury real estate is not a sudden idea but I have cherished and planned for a long time.
Of course, anything 'gestated' for decades cannot be ordinary, and the real estate sector of Rita Võ is no exception."
The Chairman Rita Võ intends to redefine 'what is high-end real estate' with the 3,600m2 project on Nguyen Van Cu Street - District 5.
This luxury apartment complex has four basement floors and 22 upper floors, with the total of more than 280 ultra-luxury apartments with 5-star hotel amenities such as entertainment clubs, restaurants, and a sport centre. The project The project will have a total investment of over 2,000 billion VND, with the lowest selling price per unit around 12,000 USD/m2, and the groundbreaking is set to take place at the end of the year.
Besides, Rita Võ is planning to build a 5-star hotel at Bai Truong, Phu Quoc. This project has a budget of approximately from 40 to 50 million USD, not including state land tax payments. The project comprises over 300 rooms and will be owned and operated by Rita Võ, rather than by hotel management corporations such as IHG, Accor, Hyatt, and others.
Rita Võ 5-star Hotel and Resort Project at Bai Truong - Phu Quoc
"Many people are concerned that Rita Võ will become bogged down in the real estate sector, following in the footsteps of many seniors; but I am confident that will not happen. Rita Võ has had enough time to prepare, and we will enter the real estate market based on what is available rather than at any cost.
For example, in Ho Chi Minh City, we currently have about six main projects, most of which are concentrated in the Thu Duc district, District 5 and 6. These projects evolve from the land we purchase to build showrooms or a cafe. "Real estate is just a supporting field; we see an opportunity and take advantage of it, but Rita Võ's core business is still the furniture and construction materials sector," The Chairman Rita Võ declared.
In addition to the real estate sector, Rita Võ's new businesses are forming and developing. Rita Võ has also begun investing in production. Mr. Trien intends to export to the rest of the world after doing well in the Vietnamese market.
Mr. Quoc Trien stated that during Covid-19 panademic, the acquisition of the aluminium door and plastic door factory, Life Window, gave him the most satisfaction. Following the acquisition, this factory was renamed Rita Võ Life Window. This is a high-quality factory, and Rita Võ intends to expand it to target exports. With this move, Rita Võ officially transitions from distribution to production.
Rita Võ LifeWindow aluminium and plastic doors, and high-end accessories
Mr. Quoc Trien is constantly preoccupied with a variety of business projects; however he never forgets his mission of contributing to society. For him, societal contribution is not just about charity; it also involves conducting business ethically, paying taxes diligently, and avoiding wrongdoing.
In decades of business, Mr. Quoc Trien always felt challenged and urged the need to seek new ventures as to create more job opportunities for the people of Vietnam, generate profits to reinvest in the company, and contribute tax revenue to the state. Foreign enterprises coming into Vietnam take their profits away.
"While doing business requires profit, profit is not everything. Whatever you do, the first step is to be truthful and transparent. We pay nearly 700 billion in taxes in 2021, and nearly 450 billion in the first six months of 2022”. Rita Võ never evaded taxes for financial gain.
In the past, I received scholarships to attend university, so now I must give back to society. We have provided scholarships to poor students at universities, built schools, and helped children from difficult backgrounds undergo heart surgery. During Covid-19, Rita Võ allocated funds to contribute to society, rather than waiting for profits to do so.
Rita Võ donates supporting packages to 11 orphans due to Covid-19 in District 8.
"We have just adopted 11 orphans who lost their parents due to Covid-19 in District 8, up to 18 years old," The Chairman Rita Vo stated.
