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Magazines Archives - 2008 April
CapitaLand to tap vast
real-estate opportunities in Vietnam
Story 12
SINGAPORE-LISTED CapitaLand Ltd
has announced that it will establish a US$300-million investment
fund to engage in property-development projects in Vietnam.
Group president and CEO Liew Mun Leong said in a press
statement: “We see vast opportunities in Vietnam’s real-estate
market, driven by the country’s strong macro-economic growth and
rapid urbanisation.”
As a further boost, the group also plans to go into an agreement
with Vietnamese company Nam Thang Long Investment Joint-Stock
Company. Said Liew: “Our aim is to deepen CapitaLand’s presence
in [the country]. We’re also looking for opportunities in the
office, retail and integrated leisure, entertainment and
convention sectors.”
Earlier this year, CapitaLand subsidiary CapitaRetail China
Trust announced a S$188-million (approximately US$361.2-million)
share offer to fund the partial acquisition of Xizhimen Mall in
Beijing, China, which sees a weekly average of 300,000 shoppers.
In addition, CapitaLand has invested S$2.1 billion in 15
shopping centres in India, a country where the burgeoning
middle- and high-income classes are spurring the growth in
demand for real-estate developments. |
