Keppel Land Invests in Two New Projects in HCM City

Keppel Land has set up two joint ventures with a Vietnamese property developer to carry out two new projects in Ho Chi Minh City. The joint ventures with An Phu Corporation will build a luxury villas and a building worth a total investment capital of around $213 million in district 9.

 

The villas, to cover 13 hectares, will provide about 200 apartments and the 6.8-hectare building yield over 1,900 apartments.

 

These apartments are scheduled to be available for sales from early 2009.

 

Keppel Land, Singapore's third biggest real estate firm, will hold a 55 per cent stake in the join ventures while An Phu will keep the remaining interest.

 

Keppel Land has announced its several investment plans in Hanoi and Dong Nai province, besides Ho Chi Minh City over the past few months, aiming to expand its operations in the Vietnam’s fast-growing market.

 

The company has been famous in Vietnam for big projects including the International Center, the Sedona Suites Royal Park in Hanoi and the Petro Vietnam Towers in the southern province of Ba Ria - Vung Tau. (Vietnam Economic Times)