Keppel
Land embarks on 5th housing project in Vietnam
Keppel Land is embarking on its fifth residential
project in Vietnam this year through a joint
venture with Vietnam's property developer Hong
Quang Ltd.
The project is worth US$136 million or S$208
million.
Keppel Land will take up a 60 percent stake
in the joint venture amounting to US$25 million
while Hong Quang will subscribe for the remaining
interest.
The waterfront project in Ho
Chi Minh City will include about 1,500 apartments.
This takes Keppel Land's portfolio
to more than 20,000 homes in the country.
The
5.1-hectare site is expected to yield a potential
gross floor area of 244,800 square metres.
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