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

Keppel Land, a Singapore based real estate company, and Vietnam-based Khang Dien Group have struck a Memorandum of Understanding (MOU) to collaborate on residential projects and sustainable urban developments Tengah EC in Ho Chi Minh City. The MOU is non-binding and will not have any notable impact on Keppel Corp’s earnings per share and net tangible assets per share for this financial year.

Having ventured into Vietnam in the early 1990s, Keppel Land has made considerable capital investments of US$3.5 billion and produced over twenty projects – including Estella Heights and Celesta Rise, two residential developments and Saigon Centre, a Grade-A commercial development.

In light of the recent partnership, Chief Executive Officer of Keppel Land, Louis Lim, noted: “Keppel Land is committed to expanding our presence in Vietnam, a key market where we see long-term growth potential. 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 implications of the MOU are far-reaching, particularly since many global investors are looking to acquire or develop more assets in the Asia Pacific region. Singapore alone was ranked second as the most preferred city for investors in the area.

Furthermore, Keppel Land has recently entered a Joint Venture (JV) with Vietnam’s Phu Long to build a new landed housing project in the same city, further emphasising the company’s commitment to the Vietnamese market.

The partnership between Keppel Land and Khang Dien Group will no doubt bring about positive growth for the region, and with Keppel Land’s decades-long experience in the region, it is only natural to expect positive returns from the agreement.