23 March 2017
Keppel Land to collaborate on investment opportunities with Vietnam’s State Capital Investment Corporation
23 March 2017, Ha Noi, Vietnam – Keppel Land Limited (Keppel Land) has today signed a Memorandum of Understanding (MOU) with Vietnam’s State Capital Investment Corporation (SCIC) to collaborate on investment opportunities in Vietnam.
The MOU was signed in Hanoi between Mr Ang Wee Gee, CEO of Keppel Land, and Mr Nguyen Duc Chi, Chairman of SCIC. Witnessing the signing were the Prime Minister of Vietnam, Mr Nguyen Xuan Phuc and the Prime Minister of Singapore, Mr Lee Hsien Loong.
Mr Ang Wee Gee, CEO, Keppel Land, said, “Keppel Land is committed to grow its commercial portfolio in key Asian cities. Vietnam, one of our key growth markets, continues to attract foreign direct investments which will drive positive demand in the property market from homes to offices and mixed-use developments. Our increased stake in Saigon Centre reflects Keppel Land’s confidence and long-term commitment to contribute to sustainable urbanisation in Vietnam with our quality portfolio of properties.”
The signing of MOU between Keppel Land and SCIC was witnessed by the Prime Minister of Vietnam, Mr Nguyen Xuan Phuc and the Prime Minister of Singapore, Mr Lee Hsien Loong
Mr Ang said, “Vietnam is one of Keppel Land’s key growth markets where we are committed to deepen our presence. We are constantly on the lookout for strategic alliances with like-minded partners to grow our business. This win-win partnership will see Keppel Land and SCIC collaborate on projects in Vietnam, and put Keppel Land in good stead as we look towards scaling up our presence in the country.”
One of Asia’s premier property companies, Keppel Land, a subsidiary of Keppel Corporation Limited, is recognised for its sterling portfolio of award-winning residential developments and investment-grade commercial properties as well as high standards of corporate governance and transparency.
The Company is geographically diversified in Asia, with Singapore and China as its core markets as well as Indonesia and Vietnam as its growth markets.
In Vietnam, Keppel Land is one of the largest and pioneer foreign real estate investors with a diverse portfolio of properties in Hanoi, Ho Chi Minh City, Dong Nai and Vung Tau including Grade A offices, residential properties, integrated townships and award-winning serviced apartments.
With 19 licensed projects across Vietnam and a pipeline of more than 25,000 homes, Keppel Land is establishing itself as the choice developer, distinguished by quality and innovative lifestyle concepts.
About Keppel Land Limited (Keppel Land)
Keppel Land, a subsidiary of Keppel Corporation Limited, is recognised for its sterling portfolio of award-winning residential developments and investment-grade commercial properties, as well as high standards of corporate governance and transparency.
The Company is geographically diversified in Asia, with Singapore and China as its core markets, as well as Vietnam and Indonesia as its growth markets.
Keppel Land is Asia's premier home developer, with a pipeline of about 66,000 homes in Singapore and overseas. The Company is also a leading prime office developer in Singapore, contributing to enhancing the city's skyline with landmark developments such as Marina Bay Financial Centre, Ocean Financial Centre and One Raffles Quay. Keppel Land is committed to grow its commercial portfolio in key Asian cities such as Shanghai, Beijing and Tianjin in China, Ho Chi Minh City in Vietnam, Jakarta in Indonesia, Yangon in Myanmar and Manila in the Philippines.
About State Capital Investment Corporation (SCIC)
Assigned by the Prime Minister of Vietnam, SCIC is the representative of the state ownership at companies with mandates of investing in key sectors/industries of the economy in compliance with market principles. SCIC’s development target by 2020 is becoming the government’s strategic investor, a regionally sizable financial institution and an effective drive to reinforce the role of the state in key sectors/industries of the economy.
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