Vietnam’s real estate sector recorded several merger and acquisition deals involving foreign capital in the first six months of 2017 (Illustrative image. Source: VNA)CapitaLand - a Singapore based real estatecompany – spent nearly 52 million USD acquiring a site in District 1 of Ho ChiMinh City to develop the first A-class international complex in Vietnam, the VRGRiver View.
The company also announced plans to purchase 90percent of shares at the CapitaLand Thanh Nien Co. Ltd., which possesses 8,000square meters in District 2 of HCM City, to build 317 apartments.
Keppel Land, another Singaporean real estateinvestor, spent 846 billion VND (37 million USD) to increase its shares to 16percent in its Saigon Centre project in HCM City.
Hongkong Land of China’s Hong Kong became astrategic partner of the HCM City Infrastructure Investment Joint Stock Companyto implement housing projects in Thu Thiem new urban area.
Additionally, An Gia Investment Group and itsJapanese partner Creed Group acquired five apartment blocks in District 7 ofHCM City worth 910 billion VND (about 40 million USD).
Duong Thuy Dung, Director of the CBRE Researchand Consulting Department, told Dau Tu reporters that the real estate market isexpected to see M&A deals from different segments such as resorts andhotels, mainly in Da Nang, Phu Quoc, and Nha Trang, houses for sales in majorcities of Hanoi and HCM City and industrial parks in Bac Ninh, Binh Duong andDong Nai provinces.
Stephen Wyatt, Country Head of JLL Vietnam, saidbillions of USD from foreign investors from Japan, the Republic of Korea,Singapore and China are expected to enter Vietnam’s real estate market.
M&A deals will develop in different segmentssuch as houses, office for lease, retail, hotels and industrial parks, headded.-VNA
VNA
