Vietnam: Singapore’s Keppel Land buys out Saigon Sports City

Source: Saigon Sports City's Homepage

By Quynh Nguyen

March 19, 2018

Singapore-based developer Keppel Land  has, through its wholly-owned subsidiary Oil (Asia) Pte Limited, acquired the remaining 10 per cent stake in Jencity Limited, which holds Saigon Sports City, for approximately $11.4 million.

Following the acquisition, Keppel Land will hold 100 per cent interest in Saigon Sports City, thus consolidating its full ownership of the township.

Covering an area of 64 hectares, Saigon Sports City is a township developed by Keppel Land in collaboration with Keppel Urban Solutions in District 2, Ho Chi Minh City with a total investment capital of $500 million.

The township will comprise about 4,300 premium homes and include iconic features such as a waterfront boulevard, an open public plaza and Vietnam’s first one-stop lifestyle hub with comprehensive facilities for sports, entertainment, shopping and dining.

The first phase of Saigon Sports City will feature some 90,000 sq m gross floor area of commercial space and about 1,220 homes, of which 620 units are slated for launch in the second half of this year.

Keppel has been ramping up investments in emerging countries in the region, including Indonesia and Vietnam. In Vietnam, Keppel Land is one of the largest and pioneer foreign real estate developers with a diverse portfolio of 20 licensed projects across Hanoi, Ho Chi Minh City, Dong Nai and Vung Tau provinces including Grade A offices, residential properties, retail centers, integrated townships and award-winning serviced apartments.

Last year, the Singapore-based property developer increased its ownership in Keppel Land WATCO I to V, by purchasing another 16 per cent equity from the Vietnamese JV partner, Southern Waterborne Transport Corporation.

Also Read: 

SG Realty: Keppel Land Wuxi site; Ascendas REIT sale; First Sponsor Amsterdam purchase

Keppel Land acquires $45m land plot from Indonesia’s BCA

 

 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.
APPLY NOW

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.
APPLY NOW