Keppel Land officially acquired Saigon Sports City project

Keppel Land, through its affiliated company, Oil (Asia) Pte, recently acquired Jenclub’s remaining 10% stake in Jencity, Saigon Sports City, with a total transaction value of approximately $11, 4 million. With this deal, Keppel Land will hold a wholly owned 100% stake in Saigon Sports City and will acquire the entire project.

Saigon Sports City: Super project $ 500 million

The Saigon Sports City project was licensed in 2009, but after several years of underdevelopment, until the beginning of 2017 when Keppel Land started planning by mobilizing large numbers of workers and machines supporting for leveling and planning ramp to the project.

The latest information shows that the surface of the Saigon Sports City project has been completely leveled and nearly 100% under construction.

According to the plan, Saigon Sports City has a size of over 64 hectares developed by Keppel Land in collaboration with Keppel Urban Solutions (KUS) in the Golden Land in An Phu Ward, District 2, Ho Chi Minh City.

Perspective of Saigon Sports City project

With a total investment of more than $ 500 million, the Saigon Sports City project will be built including a high-rise apartment complex, a shophouse, commercial area, amusement park, sports complex with state-of-the-art facilities. such as the Olympic standard pool, tennis training center, stadium, hall and sports training center.

Saigon Sports City will include approximately 4,300 high-end apartments and iconic project items such as river boulevards and squares and will be a venue for sports, entertainment and leisure activities in the first time in Vietnam.

The first phase of the Saigon Sports City project will be implemented with a total floor area of ​​90,000sqm, including commercial and 1,220 apartments, of which 620 are expected to launch in the second half of this year.

Keppel Land said that the transaction does not affect Keppel’s share-based earnings per share and net tangible assets this year.

Saigon Sports City: Keppel Land’s smartest urban model in Asia

Earlier, the Straits Times quoted Loh Chin Hua, chief executive of Singapore-based Keppel Land Group, as saying that the group would cooperate strategically with Microsoft to develop smart urban appling Saigon Sports City in District 2, Ho Chi Minh City.

Specifically, Keppel Land is currently in the process of establishing a new division specializing in integrating urban solutions to create vibrant, vibrant and digital communities in the Asia-Pacific including Vietnam.

Saigon Sports City will be the first smart urban area in Ho Chi Minh City

This move by Keppel Land aims to catch up with the fast-paced “urbanization” trend and the growing emphasis on sustainable development in major Asian cities.

“The new division, Keppel Urban Solution (KUS), will take advantage of the company’s existing land availability as well as strengths in energy, real estate, infrastructure and relationships. Intelligent, efficient and smart neighborhoods make the city of the future one of Keppel Land’s goals in becoming a smart, sustainable urban solution provider. ” Chin Hua said.

Keppel Land, with more than 20 years of experience, is a major developer of major Asian projects, including the Singapore-based Suzhou Industrial Park (CSSIP), Tianjin Singapore Ecotourism City – Sino (SSTEC), Smart City of Singapore – Sino and Keppel Bay in Singapore.

Keppel Urban Solution will include: master planning (Master-Planning); Developing and Operating Infrastructure such as smart utilities, heating and air conditioning system; Connectivity and Urban Logistics as well as community development programs.

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In addition, the Keppel Urban Solution will also operate open platforms that enable linking with leading technology vendors to create an intelligent infrastructure ecosystem.

Keppel Urban Solution will join strategic partnerships with Microsoft to develop intelligent urban applications using sensor technology and Internet of Things (IoT) in infrastructure management as well as community services in his projects.

Keppel Land said that KUS will be piloted for the first time at Saigon Sports City, a 64-hectare site that Keppel Land is deploying in An Phu Ward, District 2, Ho Chi Minh City. In the future, Saigon Sports City will become a vibrant hub of high quality urban life, as a model for other urban development projects in Asia

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