Japan, Singapore, S. Korea Highly Keen on Property M&As in Vietnam: JLL

Tuan Minh

15:04 19/04/2016

BizLIVE - M&A activities in Vietnam's property market increased in Q1/2016, with strong interest from investors from South Korea, Japan and Singapore.

Japan, Singapore, S. Korea Highly Keen on Property M&As in Vietnam: JLL

Vietnam's real estate market continues to drive foreign investors' interest. (Photo: www.mnavietnam.com)

Investors from Japan, South Korea and Singapore continued to show strong interest in mergers and acquisitions (M&As) in Vietnam’s real estate sector, Jones Lang LaSalle Vietnam (JLL) said in a note on April 18.
The real estate service firm said that the most notable transaction in the first quarter of this year was the deal between Singapore’s Keppel Land and the owners of Empire City in District 2, Ho Chi Minh City. Keppel Land acquired 40% interest for $93.9 million in the project.
The property market witnessed a strong start to the year with solid performances in most sectors in Q1/2016, especially residential sale volumes in major cities and tourist destination, according to JLL.
“In line with our forecast, M&A activities continue where it left off in 2015 with deal volumes increasing in the first three months of 2016 and many successful transactions,” the firm said.
M&A activities are expected to increase through 2016 with more transactions over the remaining of the year thanks to the combination of improved property market, positive change in legislation and soft conditions in other countries in the region, said JLL.   
The following is a list of some M&A transactions in Vietnam in Q1/2016, according to JLL:

Date

Property Name

City

Type

Price (Million USD)

Buyer

Seller

March 2016

A&B Tower

HCM City

Office

Undisclosed

Undisclosed

Undisclosed

March 2016

132 Ben Van Don, Ward 6, District 4

HCM City

Dev Site

40.40

Truong Loc Phat & Phat Dat

Nguyen Kim Invt. & Devt. JSC

April 2016

Sedona Suites Hanoi

HCM City

Hotel

31.53

BRG Group

Kepel Land Ltd.

March 2016

Thao Dien Plot

HCM City

Dev Site

Undisclosed

CapitaLand Vietnam

Thanh Nien

Pending

Duxton Hotel Saigon

HCM City

Hotel

49.24

New Life RE

Low Keng Huat

Pending

Empire City

HCM City

Dev Site

234.85

Keppel Land Ltd.

Tien Phuoc JV Tran Thai JV Gaw Capital

 

TUAN MINH