US$106Mln High-end Apartment Project in HCM City Licensed

Investment license for developing the Estella high-end apartment project in Ho Chi Minh City with total capital of US$106 million was granted on August 21, 2007 to Keppel Land Vietnam Properties Pte Ltd of Singapore and Tien Phuoc, a real estate development and investment company of Vietnam.

 

Estella project will be developed on an area of 4.8ha in An Phu residential area, only 6.5 km far from the city’s center, where Kepple has just finished selling and transferring 101 high-class villas of Villa Riviera project. Estella includes 1,500 apartments with total construction area of 280,000 s.q and the apartments in the first phase are expected to be sold from in 2008.

 

Residents in Estella will enjoy a modern living standard with full of facilities such as clubhouse, swimming pools, tennis courses, 24/24-hour safeguard service, and beautiful natural landscape. 

 

“With the demand of supplying more than 20,000 apartments in Vietnam, we are developing and will provide standardized apartments in term of quality to meet the increasing demand for accommodations in Vietnam,” said Mr. Kevin Wong, Managing Director of Kepple Land.

 

Kepple Land and Tien Phuoc will hold 55 per cent and 45 per cent of the joint venture’s investment, respectively.   

 

Kepple Land has consecutively announced to develop many new projects in Ho Chi Minh City, Hanoi and southern Dong Nai province in recent time, including 1.7-ha apartment project near Saigon River, 8.5-ha apartment project near Ca Cam River in Ho Chi Minh City and a 509-ha residential area project in Dong Nai.

 

Kepple Land is one of the largest pioneers in the field of real estate investment in Vietnam with large-scale office building and apartment projects.
T.N