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CapitaLand buys Vietnam-based real estate firm for $53.5m

Singapore Business Review
CapitaLand buys Vietnam-based real estate firm for $53.5m

It will develop a residential property in the land the firm owns.

CapitaLand acquired a 100% interest in Viet Hung Phu Real Estate Business Investment Joint Stock Company (VHP) for $53.5m.

According to an announcement, VHP owns a land plot measuring approximately 14,474 sqm in District 4, Ho Chi Minh City, Vietnam. CapitaLand intends to carry out a residential development on this land plot.

The firm said the acquisition is part of its strategy to diversify its real estate portfolio and increase its presence in Vietnam.

VHP is now a wholly owned subsidiary of CapitaLand.



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