Property M&A deals surge in six months hinh anh 1Real estate market has become busier with a large number of merger & acquisition (M&A) deals recorded in the last two quarters of 2017(Source: Internet)
Hanoi (VNA) - The real estate market has become busier with a large number of merger & acquisition (M&A) deals recorded in the last two quarters.

According to Savills Vietnam, one of the most significant deals was CapitaLand Group’s acquisition of a 0.6ha commercial site in downtown HCM City for the first grade-A international mixed-use project in Vietnam.
The project will receive disbursements from a 500 million-USD fund targeting commercial assets in Vietnam, which was set up by the Singaporean developer in November last year.

CapitaLand also announced the acquisition of a 90-percent stake in a 0.8 hectare project in Thao Dien, one of the most popular residential areas in HCM City, to develop over 300 apartments. This move was part of CapitaLand’s strategy to expand housing development in Vietnam.

Another Singaporean developer, Keppel Land, spent 846 billion VND (about 37 million USD) to increase its stake by 16 percent in the Saigon Centre project located in the heart of the southern economic hub.

A series of other M&A deals between domestic and foreign investors were reported during the reviewed period.

Hongkong Land became a strategic partner of the HCMC Infrastructure Investment JSC (CII) in developing residential projects in Thu Thiem New Urban Area. Meanwhile, An Gia Investment Group and Creed Group of Japan continued to acquire five apartment blocks of the La Casa project in District 7 worth 910 billion VND (40 million USD) from Van Phat Hung Group.

According to Stephen Wyatt, country head of Jones Lang LaSalle Vietnam (JLL), M&A deals in the real estate market may soar in 2017 as Vietnam is becoming an attractive destination for more and more domestic and foreign investors.
Investors are seeking opportunities to pour billions of dollars into the local property market this year, he said.

Not only in the housing segment, M&A activities have also been seen in resort property projects, notably Malaysia-based Berjaya Land’s disposal of 70 percent of stake worth 14.65 million USD in a four-star resort in Phu Quoc Island  to Sulyna Hospitality.-VNA