Keppel Land and Khang Dien Group to collaborate on sustainable urban developments in Ho Chi Minh City

Keppel Land, Singapore’s real estate developer, and Vietnam-based The Myst Khang Dien Group recently signed an MOU to collaborate on residential developments as well as sustainable urban projects in Ho Chi Minh City. It marks an important step forward in the two parties’ commitment to strengthening their presence in the fast-growing Vietnamese market.

Keppel Land has been involved in Vietnam’s real estate scene since the early 1990s and has already completed more than 20 projects with total investments of US$3.5 billion. Among these projects are Estella Heights and Celesta Rise, two residential projects, and Saigon Centre, a Grade-A commercial establishment.

Louis Lim, CEO of Keppel Land, expressed his confidence in being able to contribute further to Vietnam’s sustainable development through this partnership. He said, “We are pleased to collaborate with like-minded partners, such as the Khang Dien Group, to grow our business as we contribute to Vietnam’s sustainable development.”

The MOU is non-binding, and the agreement is expected to have no material impact on the earnings or net tangible assets of Keppel Corp for the current financial year.

In other news, Keppel Land also recently entered a joint venture with Vietnam’s Phu Long to develop a landed housing project in Ho Chi Minh City. This comes as a testament to the growing investment appetite for larger assets in Asia-Pacific, with Singapore being ranked at the top for preferred cities for investors in the region.

Ultimately, this collaboration between Keppel Land and Khang Dien marks another milestone for the real estate market in Vietnam, with the potential for further growth in the years ahead.