Illustrative image (Source: VNA) HCM City(VNA) – Vietnam’s property market was attractive to foreign investors in thefirst two quarters of this year, with bustling merge and acquisition (M&A)activities, according to real estate firm Savills Vietnam.
Most attractiveprojects included the smart city in Dong Anh district of Hanoi with totalcapital of over 4 billion USD.
Covering 271 hectares,it is a cooperation project between Sumitomo Group of Japan and domesticinvestors.
Once completed, the projectis expected to become one of the most modern smart city in the Southeast Asiawith a high-tech transportation system.
Meanwhile, the realestate market in Ho Chi Minh City lured many big investors. In April this year,Frasers Property bought 75 percent of shares of Phu An Khang, the companyowning a housing complex project in District 2 worth about 18 million USD.
In early June 2018,Berjaya Land Berhad from Malaysia announced a plan to transfer the Vietnam FinancialCentre to a big enterprise and its member companies for 39 million USD after the major firm contributed 88 million USD to the project in March.
After the transactioncompleted, this firm and its member companies will own 6.6 hectares in District10 to build a complex.
In the housing market,Xuan Mai Group purchased Eco-Green Saigon project with a total area of 14hectares in District 7 of Ho Chi Minh City. Meanwhile, Nam Long Group continuedcooperating with Japanese investors – Hankyu Hanshin Properties and NishiNippon Railroad - to develop the Akari City project covering 8.8 hectares inBinh Tan district.
At the same time, NamLong Group also launched a Waterpoint Township project in the Mekong Deltaprovince of Long An in July. The 355-hectare project includes houses, villas,apartment buildings, hospital, education and sports facilities.
Savills predicted thatM&A activities will continue eventful in the section of industrial andoffice property in Vietnam.-VNA
VNA
