Keppel Land to develop three residential sites in Vietnam

Fiona Ho12 Jul 2019

Ho Chi Minh City, Vietnam

Keppel Land, via its fully-owned unit Monestine, has partnered Vietnamese developer Phu Long Real Estate Corporation to acquire a 60 percent interest in three plots of land in Ho Chi Minh City, Vietnam for VND1,304 billion (S$76 million).

With a total area of 6.2 hectares, the three sites within the Nha Be district are within 400 metres of each other.

The sites are near various public amenities, including reputable healthcare facilities such as Tam Duc Heart Hospital and FV Hospital, as well as educational institutions like the Royal Melbourne Institute of Technology (HCMC campus), Ton Duc Thang University and the Saigon South International School. Nearby lifestyle and recreation offerings include, Crescent Mall, Saigon South Golf Course and SC VivoCity.

The partners intend to develop the sites into 2,400 premium apartment units with ancillary shophouses, offering about 14,650 sq m of commercial space. Inclusive of land cost, the project’s total development cost is expected to exceed VND7,400 billion (S$425 million).

Prefer to buy Singapore properties instead? Make sure you check out our AreaInsider guides first for pricing guides and insights!

The project will be developed in three phases, with development works for Phase One – which will feature 910 apartment units and some shophouses – starting in Q1 2020.

“We are confident that our residential developments will be well-received by discerning homebuyers seeking well-located and high-quality homes in the Southern corridor of HCMC,” said Linson Lim, president (Vietnam) at Keppel Land.

“This acquisition will add to Keppel Land’s pipeline of about 20,000 homes and quality commercial portfolio in Vietnam.”

Fiona Ho, Digital Content Manager at PropertyGuru, edited this story. To contact her about this or other stories, email


You may also like these articles

Keppel’s Highline Residences Wins Best Private Condo Landscape Architectural Design Award 2018

Cara Kwok, Deputy GM, Marketing at Keppel Land, collecting the Award at the recent gala dinner.Contributor FeatureBy Nadia WillanAn elevated, 180-metre park, plus sky terraces and incredible ground-le

Continue Reading27 Dec 2018

Keppel sells 70% stake in Vietnam township for S$136m

Keppel Corp is focusing on the overseas market following new cooling measures in Singapore.Through its fully-owned subsidiary Portsville, Keppel Corporation is selling a 70 percent stake in Dong Nai W

Continue Reading29 Jan 2019

Keppel to launch 2,000 homes in China

Keppel’s property division has been the main contributor of earnings for the past two years. For the first quarter of 2019, the property division moved 390 homes, up from the 300 units sold over the

Continue Reading11 Jun 2019