Property developers from Singapore are a big force in the real estate market in Vietnam, especially in Ho Chi Minh City. In the past few years, many large-scale projects have been invested or acquired by these big companies.
If Keppel Land is known for its Palm City or Empire City projects, CapitaLand is no stranger to D’edge Thao Dien and D1 Mension. The last name is Mapletree also impressed on the market with the project “terrible” Saigon South Place Complex of 4.4ha, and the next is a high-end project One Verandah in District 2.
Singaporean investors crowded “landing” Vietnam
According to Vietnam real estate, up to the second quarter of 2016, real estate investment accounted for more than 30% of total ASEAN foreign investment in Vietnam with a total of 97 projects. Singapore accounts for nearly 80% of the projects and 60% of total investment in this sector.
Singapore-based projects range from housing, offices for lease, retail space to real estate, resorts and condominiums.
The average size of a Singaporean investor’s project is $22.7 million, which is $13.8 million higher than the average for an FDI project in Vietnam. Many projects of Singaporean investors in Vietnam are efficient, contributing greatly to creating jobs, increasing export turnover and economic growth in Vietnam.
Some of Singapore’s major property developers are now available in Vietnam such as CapitaLand, Keppel Land, Sembcorp, Mapletree and Ascott Limited. These companies have achieved remarkable success in Vietnam.
Of these, two Singapore real estate firms, Keppel Land and CapitaLand Holdings, are expected to capitalize on the accumulated experience in real estate to tap into investment opportunities in the segment of the housing market in Vietnam.
Keppel Land: Reputation comes from large urban areas
Keppel Land plans to strengthen its presence in the Vietnamese market, with its diversified portfolio, from the Saigon Center shopping complex to big city projects such as Palm City, Empire City or Saigon Sports City in Ho Chi Minh City.
With a strategy targeting many customers and not forget to find investment opportunities in the low price segment, Keppel Land actively hunting cheap land in these locations.
Previously, at a seminar on real estate investment in Vietnam, Mr. Ang Wee Gee, CEO of Keppel Land said: Over 20 years in Vietnam, Keppel Land believes the real estate market in Vietnam positive outlook on a long term. With a thriving economy, Vietnam is expected to become one of the best-growing countries in ASEAN in the coming years. Vietnam, especially Ho Chi Minh City. HCM will continue to attract foreign direct investment.
In addition, Vietnam also has a young, dynamic population; The development trend, high urbanization helps the middle class growing stronger. In addition, the legal framework for housing, allowing foreigners to own the house has been loosened. All of these factors will accelerate the demand for high-quality housing and offices in the long run.
“I believe that in the coming years, the real estate industry in Vietnam will develop and breakthrough. We will continue to strengthen our presence as well as our commitment to developing with Vietnam, “said Ang Wee Gee.
CapitaLand: The grand master of the “beautiful and luxurious”
Singapore’s other big estate developer, CapitaLand, has had nearly a dozen projects underway in Vietnam to date. In this year 2017, the group has promoted cooperation and implemented two new projects in HCMC, including the D1 MENSION project in District 1 and D’edge project in Thao Dien Ward, District 2 with about 350 apartment.
Prior to this, in 2016, CapitaLand also deployed the final area of the ParcSpring project with the planned commercial name of Kris Vue. The total number of apartments of this project is about 128 apartments.
It is not too much to say that CapitaLand is a diligent investor pursuing the beauty of art as each project is a refinement of the sophisticated and unique architecture. Not designed as a general standard for all projects as most other investors, real estate giants from Singapore put much effort and dedication to each project is a unique architectural mark promoted flowers and construction quality. That is the ambition of CapitaLand in setting a new standard for the high-end apartment market in Ho Chi Minh City with the combination of architecture and art.
Mapletree: The grand prince of high prizes
Mapletree has acquired Kumho Asiana Plaza from Kumho Industrial and Asiana Airlines with a combined transfer value of S $ 400 million, or the US $ 215 million, for the transfer line. Singapore’s investment surges.
This is Mapletree’s biggest deal on a finished property that is doing business in Vietnam. Including Kumho Asiana Plaza, Mapletree now has assets of more than $1 billion in Vietnam.
It’s no surprise Mapletree is the “big man” of the high-end awards. Up until now, the group owns over 240 awards and titles in terms of capital investment and management, construction and distribution. Sustainable development and excellent service delivery.
About the project, Mapletree is currently implementing the project of two Oakwood towers – serviced apartment area of Saigon South Place complex of 4.4 hectares at Nguyen Van Linh street, District 7. In the future, Mapletree will also start construction of the One Verandah apartment project in Thanh My Loi Ward, District 2, which is expected to be the last riverside project licensed in Thanh My Loi area.
Hiew Yoon Khong, the general manager of Mapletree, said: “We will continue to look for opportunities to invest in completed properties, the quality property that immediately yields revenue in major cities. We are also interested in investing in undeveloped land for the office, retail, residential, serviced apartment and mixed-use projects. , either by yourself or with your local partner. “
Another Singaporean investor has “gathered” land in District 2 of Frasers Centrepoint Limited (FCL) when they acquired a 70% stake in G Homes, a subsidiary of the Joint Stock Company. An Duong Thao Dien Commercial Real Estate Trading (HAR). Thao Dien Project in District 2 by Frasers as an investor approved by the People’s Committee of Ho Chi Minh City with a total investment of more than VND1,000 billion.
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