Singapore's Keppel Land picks 40% in Empire City Ltd from Gaw Capital

Singapore’s Keppel Land Limited has acquired 40 per cent stake in Empire City Limited Liability Company, which is developing Vietnam’s tallest mixed-used project, from the latter’s joint venture partners for $93.9 million.

Following the transaction, Hong Kong-based real estate private equity fund Gaw Capital Partners will have 30 per cent in the venture while two Vietnamese partners Tien Phuoc Real Estate JSC and Tran Thai Real Estate Co Ltd, will jointly own 30 per cent, local media reported.

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