Vietnam’s most notable Q3 real estate transactions revealed | Real Estate Asia
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Vietnam’s most notable Q3 real estate transactions revealed

Here are some of the key industrial and residential investments in the country.

Industrial real estate continues to be a significant source of real estate investment in Vietnam, according to a Savills report. In July, Sumitomo Group (Japan) signed a MoU with Thanh Hoa Province to develop a 650-ha industrial park with an investment of US$400 million; it is also researching a 300-ha industrial park in Nam Dinh Province. 

At the end of August, three new Vietnam-Singapore Industrial Park (VSIP) projects started, two received investment approval, and 12 signed development cooperation agreements. The report adds that a joint venture between Lineage Logistics and SK Logistics was announced on August 11th to improve and expand the cold storage system in Vietnam. 

A new factory in Long An with a total investment of US$185 million was approved for Suntory Pepsico in July; Hyosung Group also has a plan to invest in a carbon fiber factory in Vung Tau which would cost nearly US$1 billion.

Here’s more from Savills:

Large residential developers like Vingroup, Masterise Homes, Ecopark launched new products for sale at the end of the quarter. The amended Housing Law is expected to be approved at the 6th National Assembly Session (end of 2023), which will remove the regulation which states that all commercial housing developments must reserve 20% of their land for social housing. This is likely to be favourable for developers looking to implement projects at greater speed. 

Major M&A transactions include: 

• SkyWorld Development Berhad (Malaysia) acquired 2,060 sq m of land for residential development in District 8, Ho Chi Minh City, from Thuan Thanh JSC for US$14.3 million. 

• Gamuda Berhad (Malaysia) purchased 3.68 ha of land in Thu Duc City from Tam Luc Real Estate Corp. for approximately US$315.8 million for mixed-use development. 

• Keppel Corporation (Singapore) acquired 65% of a company that will hold retail property in Ha Noi, for an aggregate consideration of US$50.4 million. 

• First Real Land JSC (Vietnam) acquired a 22% share of charter capital at Bach Dang Complex Company which has a land area of 6,879 sq m in Da Nang City US$8.2 million. 

• Saigonres Group (Vietnam) conducted an M&A to acquire 90% of Duc Nhi Company, thereby becoming the owner of a 7,700 sq m land plot in Tan Phu District, HCMC. 

• F.I.T Group (Vietnam) officially divested all its capital in the 800-ha beach resort project Cap Padaran Mui Dinh in Ninh Thuan Province. The new legal representative is Thang Van Luong (Tincom Group).


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