A view of Kumho Asiana Plaza Saigon in District 1 of Ho Chi Minh City. Photo: Internet.
Merger and acquisition (M&A) deal volumes remained considerable in Vietnam in the second quarter of this year, with foreign investors taking up the majority on the buy side and Ho Chi Minh City
still the most desirable destination, U.S.-headquartered Jones Lang Lasalle (JLL) has said in a report.
Also, the quarter’s investment deals were diversified, with a good variety of asset and property types transacted and investors from many countries.
Source: Real Capital Analytics/JLL
The purchases in these transactions were all foreign investors. Apart from these, there were some other deals between local developers, two of the latest being the Dat Xanh Group’s purchase of residential development sites, one in District 2 and the other in Thu Duc District, HCMC.
The investment market is likely to remain active in the coming quarters, thanks to the large growth momentum in Vietnam in recent quarters amid the lower activity in the region, the property firm said.
According to JLL, the acquisition of InterContinental Asiana Saigon in HCMC by Singapore’s Mapletree Investments from Kumho Industrial Company and Asiana Airlines was among the top 10 single asset transactions in Asia-Pacific in the first half of 2016