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This was clearly demonstrated in the first two quarters of the year with many deals “change hands” the top real estate.
According to a survey by Savills Vietnam, one of the prominent transactions is the acquisition of a 0.6 ha commercial project located in a prime location in Ho Chi Minh City center with the purpose of building the first international complex of type A in Vietnam of CapitaLand Group.
See more: Vietnam Real Estate News
This project will receive a disbursement of the 500 million USD investment fund targeted commercial properties in Vietnam, which was implemented by the Singapore developer last November.
At the same time, CapitaLand also announced the acquisition of the 90% stocks of a 0.8ha project in ThaoDien which is one of the most popular residential areas in Ho Chi Minh City in order to develop over 300 apartments. This move represents a strategy to expand the potential development of housing in Vietnam of this investor. Another well-known Singaporean name, Keppel Land, has paid 37 million USD to increase the stock to 16% in their Saigon Center project in central Ho Chi Minh City. Thus, the attractiveness of real estate in Vietnam is still attractive in the eyes of foreign investors.
A series of cooperation between foreign and domestic investors have also been established such as Hong Kong Land officially became a strategic partner of Ho Chi Minh City Technical Infrastructure Investment Joint Stock Company (CII) in exploiting housing projects on the land fund in Thu Thiem New Urban Area.Also in Ho Chi Minh City, An Gia Investment Group and its Japanese partner Creed Group have continued to “acquire” 5 blocks apartment of La Casa project in District 7 of Van Phat Hung Group, with the value of about 40 million USD.
Considering M&A operation, Stephen Moody, general manager of Jones Lang LaSalle (JLL) said that mergers and acquisitions may strongly increase because of the interest of investors in the Vietnamese market continuing increasingly. Even billions of dollars are hunting for opportunities to enter the real estate market because Vietnam is a bright spot for investment in the region and in the world, “said Stephen Wyatt.
In addition to the housing segment, M&A activity also occurs in the segment of resort real estate. From the positive signals on tourism, Berjaya Land group (Malaysia) successfully transferred its entire 70% stocks in a 4-star resort project on Phu Quoc Island to Sulyna Hospitality Company with a total value of 14.65 million USD
Foreign investment from many parts of the world is still waiting for appropriate opportunities to move into the Vietnamese market in various forms – experts commented.
You are reading the article “Many Business Transactions “Change Hands” The Real Estate ” in the section “Real Estate” on the website: www.realestatevietnam.com.vn
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