SINGAPORE (March 23): Keppel Corporation subsidiary Keppel Land on Thursday 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 between Keppel Land CEO Ang Wee Gee and SCIC chairman Nguyen Duc Chi.
The ceremony in Hanoi was witnessed by Singapore’s Prime Minister Lee Hsien Loong and Vietnam’s Prime Minister Nguyen Xuan Phuc.
Keppel Land is one of the largest and pioneer foreign real estate investors in Vietnam, with a diverse portfolio of properties in Hanoi, Ho Chi Minh City, Dong Nai and Vung Tau.
The property group has some 20 licensed projects across Vietnam, including Grade A offices, residential properties, integrated townships, and serviced apartments.
“Vietnam is one of Keppel Land’s key growth markets where we are committed to deepen our presence,” says Ang. “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.”
Shares of Keppel Corp closed 4 Singapore cents higher at S$6.76 on Thursday. — theedgemarkets.com.sg