The Keppel Group held the groundbreaking ceremony this morning for Saigon Sports City, a 64-hectare site which will be developed into a smart, integrated township in the prime District 2 of Ho Chi Minh City.
When completed, Saigon Sports City will feature about 4,300 premium homes as well as Vietnam’s one-stop sports, entertainment and lifestyle hub.
Kepple claims that biophilic design principles will be adopted in Saigon Sports City, including natural cross-ventilation throughout the development, generous space between buildings for natural light, a contiguous fitness circuit, lush landscaping with locally-sourced flora and picturesque water features with natural filtration, to create a green and beautiful environment.
The first phase of Saigon Sports City will comprise residential and commercial spaces as well as sports facilities.
Loh Chin Hua, CEO of Keppel Corporation said, “Over the years, we have forged strong partnerships with the Ho Chi Minh City government and with local partners, and contributed to the city’s rapidly changing cityscape with our hallmark quality homes and commercial developments.”
“These include Saigon Centre, Estella, Palm City and Riviera Point. We are currently also developing Empire City in the Thu Thiem New Urban Area, which will be another key landmark in Ho Chi Minh City,” he added.
Earlier last year, Keppel Land, through its wholly-owned subsidiary Oil (Asia) Pte, acquired the remaining 10 per cent stake in Jencity, which holds Saigon Sports City, from Jenclub for a deal value of approximately $11.4 million.
After this acquisition, Keppel Land holds 100 per cent interest in Saigon Sports City, thus consolidating its full ownership of the township.
This project was licensed 10 years ago but it was still on paper until the first quarter of last year when Keppel Land started mobilizing a large number of workers and supporting machines to level land and constructing the road to the township.
Tags:
Tags:
The supply of luxury apartments in central Hanoi is becoming increasingly scarce, pushing starting prices to new highs.
Vietnam's hospitality industry is undergoing a major transformation with a brand repositioning strategy that emphasizes unique, sustainable, and community-focused experiences.
High demand and limited supply drive transactions in major urban areas despite soaring costs.
Despite the real estate market's lackluster performance, several companies are accelerating land acquisition efforts.
Hanoi is set to receive a significant future supply of over 100,000 apartments starting from 2025, a tenfold increase compared to the current availability.
Hanoi’s apartment prices are expected to continue rising until supply and legal bottlenecks are resolved, according to experts.
