KeppleLand Holds Firm Position in Real Estate Market

Vietnam is one of the key growth countries on which Keppel Land is focusing. Keppel Land has a long – term view of Vietnam and will continue to explore with the People's Committee of Hanoi and HCMC, and other state – owned companies to collaborate and develop residential townships. We are well poised to participate in and help contribute to Vietnam's next phase of growth. In particular, tapping on demand for quality housing from the growing middle class population, Keppel Land has embarked on developing integrated residential townships such as Saigon Sports City in Ho Chi Minh City as well as catering to the middle and upper income homebuyers with properties such as villa development, Villa Riviera.

Could you please share some detailed information about Saigon Sports and Villa Riviera?     

Villa Riviera is a gated villa development in the prime residential area of An Phu, District 2. Villa Riviera features lush landscaping and greenery, offering a resort- living lifestyle. Construction works on Villa Riviera is progressing on schedule and we anticipate completion of the whole development by mid –2007. The development was launched to the public earlier this year and was positively received. So far, sales have been very encouraging. Saigon Sports City is a 64 – hectare, well planned and integrated development comprising residential, retail, commercial components and a 15 –ha site zoned for sports facilities. This development will offer an innovative Healthy Lifestyle development concept, the first of its kind in Vietnam. We believe this development will transform and enhance the landscape of District 2, and will be a landmark self-sustaining integrated development in HCMC.

The Vietnamese government has taken a proactive approach in reforming and restructuring its economy by implementing pro-investment policies, such as the recent Unified Enterprise Law. Such moves create conducive environment to attract foreign investment as they create a level playing field for all. To sustain the strong economic growth, the Vietnamese government will need to remain competitive and consider incentives offered by other countries in the region to attract further investments.

The real estate market in Vietnam is still at its nascent stage. With WTO accession, Vietnam is poised for its next phase of growth, and this augurs well for the real estate market.