Illustrative image (Source: VNA)

HCM City (VNA) – Vietnam’s property market was attractive to foreign investors in the first two quarters of this year, with bustling merge and acquisition (M&A) activities, according to real estate firm Savills Vietnam.

Most attractive projects included the smart city in Dong Anh district of Hanoi with total capital of over 4 billion USD.

Covering 271 hectares, it is a cooperation project between Sumitomo Group of Japan and domestic investors.

Once completed, the project is expected to become one of the most modern smart city in the Southeast Asia with a high-tech transportation system.

Meanwhile, the real estate market in Ho Chi Minh City lured many big investors. In April this year, Frasers Property bought 75 percent of shares of Phu An Khang, the company owning a housing complex project in District 2 worth about 18 million USD.

In early June 2018, Berjaya Land Berhad from Malaysia announced a plan to transfer the Vietnam Financial Centre to a big enterprise and its member companies for 39 million USD after the major firm contributed 88 million USD to the project in March.

After the transaction completed, this firm and its member companies will own 6.6 hectares in District 10 to build a complex.

In the housing market, Xuan Mai Group purchased Eco-Green Saigon project with a total area of 14 hectares in District 7 of Ho Chi Minh City. Meanwhile, Nam Long Group continued cooperating with Japanese investors – Hankyu Hanshin Properties and Nishi Nippon Railroad - to develop the Akari City project covering 8.8 hectares in Binh Tan district.

At the same time, Nam Long Group also launched a Waterpoint Township project in the Mekong Delta province of Long An in July. The 355-hectare project includes houses, villas, apartment buildings, hospital, education and sports facilities.

Savills predicted that M&A activities will continue eventful in the section of industrial and office property in Vietnam.-VNA