Phu My Hung Corporation
Encyclopedia
Phu My Hung Corporation is a joint venture between the CT&D Group of Taiwan and City Government of Ho Chi Minh City (through Tan Thuan Industrial Promotion Company)
Phu My Hung is one of the largest urban infrastructure developer in Vietnam
. Founded in 1993 by its founding chairman, Lawrence S. Ting, PMH is responsible for the planning of the 3,300 hectare Saigon South urban expansion plan that created the southward expansion option for Ho Chi Minh City
. The master plan competition was held in July 1993. Subsequently a consortium made up of Skidmore Owings & Merrill, Koetter Kim & Associates, and Kenzo Tange
of Japan was formed. The master plan was the first Asian urban plan to win an American Institute of Architects
Honor Award for Urban Design in 1997.
PMH was ultimately responsible for 1) the development of a 17.8 km 10-14 lanes roadway, the Saigon South Parkway and 2) 750 hectares of urban development that includes the Phu My Hung New City Center
. The Saigon South Parkway was later renamed by the Vietnamese government as Nguyen Van Linh
Parkway in honor of its former leader, General Secretary
Nguyen Van Linh
, who was responsible to initiate economic reform policy "doi moi" in 1986.
PMH pioneered many real estate market practices in Vietnam. PMH was among the first to introduce the concept of a condominium
to Vietnam. Working with its banking partners, PMH was the first to offer long term mortgage loan
s in Vietnam. This helped the market to extend mortgage loans from previously 5 year term to 15 year term or longer. PMH was the first to fully develop a master planned urban development in Vietnam. Together with its sister companies, Tan Thuan Corporation and Hiep Phuoc Power Company, PMH has created over 100,000 job opportunities in Ho Chi Minh City
.
For its contributions, PMH has received many awards from the government of Vietnam including most significantly:
Labor Medal of First Class from the State President Nguyen Minh Triet of Vietnam in December 2007; the first "Model City" award from Minister of Construction in June 2008; Citation awarded by Minister of Education in March 2011 for contribution towards education; Citations awarded by Ho Chi Minh City in March 2008, February 2009. March 2009, April 2010 and March 2011.
In December 2007, Vietnamese State President awarded Mr. Lawrence S. Ting, founding chairman of PMH, posthumously the Friendship Medal of Vietnam in memory of his contributions. This was the first time the Friendship Medal of Vietnam was given to a foreign businessman.
PMH's parent company CT&D Group was chosen by the World Economic Forum
as a WEF Global Growth Company in June 2011.
Aside from infrastructure
business, PMH also operates two schools; Saigon South International School
and Lawrence S. Ting Memorial School (Dinh Thien Ly School). Lawrence S Ting School (Dinh Thien Ly School) is the first school in Vietnam chosen by Microsoft
as a Microsoft Innovative School.
Phu My Hung is one of the largest urban infrastructure developer in Vietnam
Vietnam
Vietnam – sometimes spelled Viet Nam , officially the Socialist Republic of Vietnam – is the easternmost country on the Indochina Peninsula in Southeast Asia. It is bordered by China to the north, Laos to the northwest, Cambodia to the southwest, and the South China Sea –...
. Founded in 1993 by its founding chairman, Lawrence S. Ting, PMH is responsible for the planning of the 3,300 hectare Saigon South urban expansion plan that created the southward expansion option for Ho Chi Minh City
Ho Chi Minh City
Ho Chi Minh City , formerly named Saigon is the largest city in Vietnam...
. The master plan competition was held in July 1993. Subsequently a consortium made up of Skidmore Owings & Merrill, Koetter Kim & Associates, and Kenzo Tange
Kenzo Tange
was a Japanese architect, and winner of the 1987 Pritzker Prize for architecture. He was one of the most significant architects of the 20th century, combining traditional Japanese styles with modernism, and designed major buildings on five continents. Tange was also an influential protagonist of...
of Japan was formed. The master plan was the first Asian urban plan to win an American Institute of Architects
American Institute of Architects
The American Institute of Architects is a professional organization for architects in the United States. Headquartered in Washington, D.C., the AIA offers education, government advocacy, community redevelopment, and public outreach to support the architecture profession and improve its public image...
Honor Award for Urban Design in 1997.
PMH was ultimately responsible for 1) the development of a 17.8 km 10-14 lanes roadway, the Saigon South Parkway and 2) 750 hectares of urban development that includes the Phu My Hung New City Center
Phu My Hung Urban Area
Phu My Hung New City Center is a new urban area in District 7, Saigon, Vietnam. The new urban area covers an area of 750 hectares.Phu My Hung has set a high standard for urban planning and development in Vietnam. Unlike most disordered urban areas in the country, Phu My Hung features improved urban...
. The Saigon South Parkway was later renamed by the Vietnamese government as Nguyen Van Linh
Nguyen Van Linh
Nguyễn Văn Linh was a Vietnamese revolutionary and politician. He was the general secretary of the Communist Party of Vietnam from 1986 to 1991 and a political leader of the Vietcong during the Vietnam War...
Parkway in honor of its former leader, General Secretary
General Secretary
The office of general secretary is staffed by the chief officer of:*The General Secretariat for Macedonia and Thrace, a government agency for the Greek regions of Macedonia and Thrace...
Nguyen Van Linh
Nguyen Van Linh
Nguyễn Văn Linh was a Vietnamese revolutionary and politician. He was the general secretary of the Communist Party of Vietnam from 1986 to 1991 and a political leader of the Vietcong during the Vietnam War...
, who was responsible to initiate economic reform policy "doi moi" in 1986.
PMH pioneered many real estate market practices in Vietnam. PMH was among the first to introduce the concept of a condominium
Condominium
A condominium, or condo, is the form of housing tenure and other real property where a specified part of a piece of real estate is individually owned while use of and access to common facilities in the piece such as hallways, heating system, elevators, exterior areas is executed under legal rights...
to Vietnam. Working with its banking partners, PMH was the first to offer long term mortgage loan
Mortgage loan
A mortgage loan is a loan secured by real property through the use of a mortgage note which evidences the existence of the loan and the encumbrance of that realty through the granting of a mortgage which secures the loan...
s in Vietnam. This helped the market to extend mortgage loans from previously 5 year term to 15 year term or longer. PMH was the first to fully develop a master planned urban development in Vietnam. Together with its sister companies, Tan Thuan Corporation and Hiep Phuoc Power Company, PMH has created over 100,000 job opportunities in Ho Chi Minh City
Ho Chi Minh City
Ho Chi Minh City , formerly named Saigon is the largest city in Vietnam...
.
For its contributions, PMH has received many awards from the government of Vietnam including most significantly:
Labor Medal of First Class from the State President Nguyen Minh Triet of Vietnam in December 2007; the first "Model City" award from Minister of Construction in June 2008; Citation awarded by Minister of Education in March 2011 for contribution towards education; Citations awarded by Ho Chi Minh City in March 2008, February 2009. March 2009, April 2010 and March 2011.
In December 2007, Vietnamese State President awarded Mr. Lawrence S. Ting, founding chairman of PMH, posthumously the Friendship Medal of Vietnam in memory of his contributions. This was the first time the Friendship Medal of Vietnam was given to a foreign businessman.
PMH's parent company CT&D Group was chosen by the World Economic Forum
World Economic Forum
The World Economic Forum is a Swiss non-profit foundation, based in Cologny, Geneva, best known for its annual meeting in Davos, a mountain resort in Graubünden, in the eastern Alps region of Switzerland....
as a WEF Global Growth Company in June 2011.
Aside from infrastructure
Infrastructure
Infrastructure is basic physical and organizational structures needed for the operation of a society or enterprise, or the services and facilities necessary for an economy to function...
business, PMH also operates two schools; Saigon South International School
Saigon South International School
Saigon South International School is a non-profit pre-school to grade 12 international school located in Ho Chi Minh City, Vietnam.SSIS offers an Accredited American curriculum accredited by the United States-based Western Association of Schools and Colleges.-Profile:Saigon South International...
and Lawrence S. Ting Memorial School (Dinh Thien Ly School). Lawrence S Ting School (Dinh Thien Ly School) is the first school in Vietnam chosen by Microsoft
Microsoft
Microsoft Corporation is an American public multinational corporation headquartered in Redmond, Washington, USA that develops, manufactures, licenses, and supports a wide range of products and services predominantly related to computing through its various product divisions...
as a Microsoft Innovative School.