Vietnam’s real estate market is witnessing a rising number of merger and acquisition (M&A) deals. (Photo: VNA) In the third quarter of this year, a number of majorM&As were made in the market, including Malaysia’s SkyWorldDevelopment Berhad acquiring 2,060 sq.m of land in HCM City’s District 8 fromThuan Thanh JSC with a price of 14.3 million USD for its housing project.
Gamuda Land, the property arm of Malaysia’s GamudaBerhad, also purchased 3.68 hectares of land worth some 315.8 million USD from TamLuc Real Estate Corporation, which will serve both commercial and residentialpurposes.
Vietnam’s Saigonres Group acquired 90% of the sharesof Duc Nhi JSC to own a 7,700 sq.m plot in Tan Phu district, HCM City.
Singapore's Keppel Land Limited paid 50 million USD fora 65% stake in a local company that is expected to open a shopping mall inHanoi in 2025.
Investor confidence is being restored in the real estate market in Vietnam. (Photo: VNA) Meanwhile, F.I.T Group (Vietnam) also officiallydivested capital from the Cap Padaran Mui Dinh beach resort project with anarea of 800 hectares in Ninh Thuan province.
By the end of October 2023, the total newlyregistered and adjusted capital together with capital contributions and sharepurchases by foreign investors exceeded 25.76 billion USD, up 14.7%year-on-year.
The real estate business still ranked second at nearly2.14 billion USD, accounting for more than 8.3% of the accumulative registeredinvestment.
Troy Griffiths, Deputy Managing Director of SavillsVietnam, said real estate M&A activities are increasingly vibrant,stressing the State Bank of Vietnam's continued pursuit of reducing interestrates to the 2020 level is also a good sign for housing property.
Neil MacGregor, Managing Director of SavillsVietnam, said with the shortage of apartment supply, investors who are able tosuccessfully develop new projects will benefit from the strong demand at thistime, especially if they target the growing middle-class buyers.
Such positive signs in attracting FDI and M&Ashow that investor confidence is being restored in the real estate market in Vietnam./.
By the end of October 2023, the total newlyregistered and adjusted capital together with capital contributions and sharepurchases by foreign investors exceeded 25.76 billion USD, up 14.7%year-on-year.
The real estate business still ranked second at nearly2.14 billion USD, accounting for more than 8.3% of the accumulative registeredinvestment.
Troy Griffiths, Deputy Managing Director of SavillsVietnam, said real estate M&A activities are increasingly vibrant,stressing the State Bank of Vietnam's continued pursuit of reducing interestrates to the 2020 level is also a good sign for housing property.
Neil MacGregor, Managing Director of SavillsVietnam, said with the shortage of apartment supply, investors who are able tosuccessfully develop new projects will benefit from the strong demand at thistime, especially if they target the growing middle-class buyers.
Such positive signs in attracting FDI and M&Ashow that investor confidence is being restored in the real estate market in Vietnam./.
VNA
