Businesses from Singapore are seeking opportunities and accelerating investment in Vietnam ’s real estate market.
CapitaLand Holdings of Singapore said it plans to increase its
investment in real estate in Vietnam from 400 million to almost 2
billion Singaporean dollars in the next three to five years. Meanwhile,
Keppel Land is pouring its investment into the Saigon Centre trade
complex and Saigon Sports City residential area projects in Ho
Chi Minh City and southeastern Dong Nai province.
Secretary General of the Vietnam Real Estate Association Phan Thanh Mai
said that real estate remains a field that attracts Singaporean
businesses’ attention. In the context where Vietnam ’s projects are
in need of capital, it is an opportunity for investors to seek capital
and experience from Singaporean partners, he said.
Savills Vietnam Deputy Managing Director Neil MacGregor recently said
that despite global financial crisis, Vietnam is ranked as one of the
leading destinations for Singaporean investors in Southeast Asia,
surpassing Malaysia and India .
According to a
survey conducted by the ASEAN Economic Advisory Council in 2010, up to
49 percent of 120 businesses operating in Singapore chose Vietnam
to be their investment destination in the next three years.
At present, Singapore is implementing 50 real estate investment
projects totalling more than 7.6 billion USD in Vietnam. /.