khukonho: Keppel Land keen on realty projects in Vietnam ? TalkVietnam

Dinh Dung

Besides, Keppel Land will also develop other projects such as Saigon Sports City and Riviera Point, said Ang Wee Gee, CEO of Keppel Land, who just wrapped up a visit to Vietnam.

The second phase of Saigon Centre project comprises a 45-storey complex with retail space, offices and apartments. Located on Le Loi Street in the heart of the city, the project is expected to complete in 2015, supplying the market with a 50,000-square-meter commercial center, grade A offices on a total area of 40,000 square meters and around 200 high-class serviced apartments.

Around 30% of the retail section has been leased via a deal signed with retailer Takashimaya, which has pledged to hire around 15,000 square meters in long term.

The first phase of the project has seen stable operations over many years.

The group will cooperate with Toshin Development Singapore Pte Ltd to set up an enterprise that will provide retail management services for Keppel Land?s projects in Vietnam.

The enterprise is also speeding up construction of Saigon Sports City urban complex in District 2. Once completed, the project will supply the market with around 3,000 condos.

In District 7, Keppel Land is developing Riviera Point, a riverside high-class condo project with 12 towers and 2,400 apartments. The first phase is estimated to finish in 2015.

Besides, Keppel Land is carrying out other large projects, including Nam Rach Chiec with over 6,400 condos, retail shops, commercial centers, education and healthcare facilities on the total area of one million square meters.

The group has committed long-term investment in Vietnam despite difficulties in the real estate market, saying that it will seek investment cooperation chances in the future.

Keppel Land up to now has won licenses to develop 18 projects in big cities such as Hanoi, HCMC, Vung Tau and Dong Nai with the total capital of around US$2 billion. The projects are expected to launch 22,000 condos onto the market.

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