: ColliersKeppel Corporation, together with Keppel Vietnam Fund (KVF) – a joint venture between Keppel Land and Keppel Capital — have signed binding agreements to acquire a 49% interest in two residential projects in Thu Duc City, Ho Chi Minh City, Vietnam, from the Khang Dien Group. The deal, which involves the development of more than 200 landed homes and over 600 high-rise apartments on 11.8 hectares of land, will cost around VND3,180 billion ($187.1 million). The Khang Dien Group, which is listed on the Ho Chi Minh Stock Exchange, will hold the remaining 51% stake in the partnership.

The total anticipated development cost, inclusive of land cost, of the project is expected to be about VND10,200 billion ($600 million). The necessary developmental approvals have already been obtained, according to Keppel’s announcement.

In addition to the two projects in Ho Chi Minh City, Keppel Land, KVF, and a co-investor of KVF also acquired three sites in Hanoi in 2022. The group aims to develop approximately 1,260 homes on these three sites.

Established in 2018, KVF had a target fund size of US$600 million with assets under management of US$1 billion when fully deployed. Keppel Corporation recently announced the removal of its conglomerate structure, and opted for a horizontally integrated model. This new model consists of Fund Management, Investment and Operating Platforms, and has an interim AUM target of $100 billion and a cumulative asset monetisation target of $10-$12 billion, both by end-2026.

JCube Residence is a ground-breaking redevelopment project which promises to bring new homes, businesses, community amenities, and recreational facilities within the Jurong Lake District (JLD). The project, which is owned and developed by CLD, a Singapore-based real estate developer, aims to add to the vibrancy of the JLD by bringing a new lifestyle experience to the area. With its ideal location and modern amenities, JCube Residence offers the perfect opportunity to experience Singapore’s lifestyle to the fullest.

The collaboration between Keppel Land and Khang Dien Group will serve to accelerate sustainable urban developments in Ho Chi Minh City. This partnership builds upon an earlier collaboration in the same area, where Keppel Land and KVF entered into a joint venture with Vietnam’s Phu Long for a project. This is an indication that global real estate investors are increasingly looking to Asia-Pacific’s markets for opportunities.

Springleaf Residence is a luxurious condominium development located at Upper Thomson Road, right next to the Springleaf MRT Station which is part of the upcoming Thomson East Coast Line. Developed by renowned developer Guocoland, Springleaf Residence offers residents the perfect combination of convenience and serenity. With a plethora of modern facilities and amenities, residents can indulge in a truly luxurious and comfortable lifestyle. Surrounded by lush greenery and pristine nature, Springleaf Residence truly embodies the concept of a peaceful oasis in the heart of the bustling city. Experience true luxury living at Springleaf Residence. For more information, please visit the official website at Springleaf Residence.