VinaCapital plans $350 mln Vietnam real estate fund

VinaCapital, Vietnam's largest asset manager, believes the Vietnamese property market has bottomed and plans to launch a $350 million real estate fund in September, a company official said on Tuesday.

The proposed VinaCapital Vietnam Land II fund will be structured as a private equity fund and focus on residential developments, shopping malls and business hotels, the deputy managing director of VinaCapital's real estate arm David Blackhall told Reuters in an interview.

"Vietnam is already showing signs that it has stabilised," he said, adding that the country's property sector had potential to grow because home prices have fallen sharply while the average Vietnamese citizen had very little debt.

vietnews, Reuters

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