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

Keppel Land, Singapore’s leading real estate company, has announced a Memorandum of Understanding (MOU) with Vietnam’s Khang Dien Group. The agreement will see the two entities collaborating on residential developments and sustainable urban projects in Ho Chi Minh City.

Having first set foot in Vietnam in the 1990s, Keppel Land has made significant investments in the country. It has developed more than 20 projects, with a total capital outlay of US$3.5 billion. Its Ho Chi Minh City-based developments include Estella Heights, Celesta Rise and Saigon Centre, a highly recognized Grade-A commercial complex.

Louis Lim, Chief Executive Officer of Keppel Land, expressed his intention to continue developing the company’s presence in Vietnam. According to him, partnering with the Khang Dien Group and other like-minded organizations could help them realize their potential and Tengah Plantation EC make a positive contribution to Vietnam’s sustainable growth.

The MOU is non-binding and is not likely to have any material effect on the financial performances of Keppel Corp for the current financial year.

Keppel Land recently announced a joint venture with Vietnam’s Phu Long for a new landed housing project in Ho Chi Minh City. This comes at a time when investors across the Asia Pacific region are seeking new opportunities, with Hong Kong currently falling off their radar. Nonetheless, Singapore remains a preferred city, ranking second on the list.