With the additional $ 11.4 million spent on Jenclub’s remaining 10% stake in Jencity, Keppel Land completed the acquisition of Saigon Sports City.
The Saigon Sports City project has an area of over 64 hectares, developed by Keppel Land in partnership with Keppel Urban Solutions (KUS), in a gold estate located at Rach Chiec Sports Complex, District 2, HCMC.
With a total investment capital of more than $ 0.5 billion, Saigon Sports City is being built including a high-rise apartment complex, a shophouse, commercial area, amusement park and sports complex with state-of-the-art facilities. such as the Olympic standard pool, tennis training center, stadium, hall and sports training center.
The integrated urban area will consist of approximately 4,300 luxury apartments with iconic projects such as river boulevards and squares and will be the venue for the first sport, entertainment and lifestyle activities in Vietnam.
Phase 1 of the project will be implemented with a total floor area of 90,000m2, 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.
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