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Singaporean investors bet on Vietnamese real estate market
Vietnam ’s real estate market is expecting a new wave of investment from Singapore, an official from the Ho Chi Minh City Real Estate Association (HoREA) said.
According to Do Thi Loan, HoREA Secretary General, there are signs that Singaporean investors are planning their long-term presence in the market of 86 million population after the success of a series of real estate projects in Vietnam by their countrymen.
Loan pointed to two conferences on real estate markets held in Singapore in March and June where hundreds of Singaporean investors showed their special interests in the development potential of the Vietnamese market.
Many of them have arrived in Vietnam to study the market and seek partners, she said.
The past two years have seen a strong flow of investment into real estate projects in Vietnam , with many of them proving to be profitable, such as those invested by Keppel Land, CapitaLand, Banyan Tree, Allgreen Properties, Chip Eng Seng, GuocoLand, Ascott Group and Amara Holdings.
Keppel Land Group alone has poured over 3 billion USD in 16 real estate projects in the country, with some of fairly large scale, including the Saigon Centre project comprising of international-class offices, apartments, a hotel and a shopping centre, and the Estella residential project area in Ho Chi Minh City.
Loan is confident that investors from other countries will also come to Vietnam . “It is the best time now to invest in the Vietnamese real estate market as the country has just embarked on the urbanisation process,” she said.
VNA
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