Vietcombank will finance nearly VND800 billion for Vietcomreal's Viva Riverside real estate project. — Photo vaytienbank.com

HA NOI (Biz Hub) – The Joint Stock Commercial Bank for Foreign Trade of Viet Nam (Vietcombank) has signed an agreement with the Viet Real Estate Commercial Joint Stock Company (Vietcomreal) to finance the latter's real estate projects.

Under the agreement signed on October 2, the bank will fund total capital of nearly VND1.5 trillion (US$66.96 million).

Of the total capital, Vietcombank will finance nearly VND800 billion for Vietcomreal's Viva Riverside real estate project, which is located at HCM City's District 6, with total investment capital of some VND1 trillion. The project includes 567 apartments.

Under the agreement, customers who buy apartments at the Viva Riverside project will be lent up to 70 per cent of the apartment's value.

Truong Thi Thuy Nga, Vietcombank's deputy general director and director of Vietcombank's HCM City branch, said to implement instructions of the government and the State Bank of Vietnam, Vietcombank has, so far, lent money to individuals and enterprises at 52 industries and sectors.

In the real estate industry, Vietcombank lent funds to customers in HCM City, Da Nang and Ha Noi, she said. — VNS