Tin tức

Vietnam’s property market, including the industrial, residential and office segments, saw vibrant merger and acquisition activities in the first seven months as companies pour big bucks into potential projects.

In mid-July, CapitaLand Development, a unit of Singapore-based property developer CapitaLand, bought eight hectares of land in Thu Duc City to build a residence and shophouse complex comprising 1,100 apartments.

The deal is set to be finalized next year, while construction is scheduled to begin in 2024 and completed in 2027.

Hong Kong-based investment firm Gaw Capital Partners in June announced a data center project covering over 6,000 square meters in Saigon Hi-Tech Park.

Several other acquisitions were made between March and May at industrial parks in Ho Chi Minh City, and the southern provinces of Dong Nai and Ba Ria – Vung Tau.

The residential property segment has experienced strong M&A activities, especially in HCMC.

Novaland bought the Kenton Node project in Nha Be District and renamed it Grand Sentosa with plans to build 1,640 luxury apartments.

The project was formerly developed by Tai Nguyen Construction and Production Trading and has been delayed for 13 years.

Property developer Masterise Homes this year acquired the 117-hectare Sai Gon Binh An project near Long Thanh – Dau Giay Expressway and renamed it The Global City.

In terms of investment, U.S. investment fund Warburg Pincus poured $250 million into Novaland to increase its land fund and develop existing projects.

VinaCapital and Dragon Capital jointly invested $103 million in Hung Thinh Land, a southern property developer.

Several major deals were also recorded in the north.

In early January, Singapore-based real estate logistics provider GLP established GLP Vietnam Development Partners 1 with a total investment of $1.1 billion to fund six logistics centers covering a total 900,000 square meters.

In February, BW Industrial, founded by Warburg Pincus and Vietnam’s industrial infrastructure developer Becamex IDC, announced it had bought 74,000 square meters of land in Bac Tien Phong Industrial Park of Quang Ninh Province.

CapitaLand Development had also signed a memorandum of understanding with Bac Giang authorities to develop a residential, industrial and logistics complex covering 400 hectares with a commitment to invest $1 billion.

In the first six months, developer Viva Land signed two major deals.

It bought the office building Capital Place in downtown Hanoi from CapitaLand at $550 million.

It also bought the residential and commercial complex Saigon One Tower in HCMC’s District 1 and renamed it IFC One.

CEO of developer Cushman & Wakefield Trang Bui said the residence, industrial and office segments all saw vibrant M&A activities in the first seven months.

The industrial segment is set to see more activity in future as demand remains high, she added.

Trang said Vietnam’s property market is seeing increased interest from foreign investors, especially highly profitable projects.

Trang Minh Ha, chairman of business consultancy North Stars Asia, forecast that foreign direct investment would continue to flow into industrial parks from now until 2025.

Source: vnexpress.net