Novaland and VinaLand boosted M&A deals in residential property projects
By Minh Anh
October 27, 2017 | 07:12 AM GMT+7
In just three months, Novaland bought two projects and sold one real estate project and all three of these project were in commercial and residential fields and located in HoChiMinh City.
Vina Square project in District 5, HCMC.
JLL, company providing real estate services and investment management, released an overview of M&A (Mergers and Acquisitions) activities in the first half of 2017.
According to this release, in the third quarter of 2017, the real estate market in Vietnam witnessed increased M&A activities and most of the deals were in commercial and residential fields.
In September, 2017, VinaLand Limited, one of VinaCapital's real estate investment funds, sold all its shares in the Vina Square project to Tri Duc Real Estate company with net cash inflow of approximately US$41.2 million and an internal rate of return of 3.3%. Vina Square project has area of three hectares in District 5, HCMC.
In addition to commercial and residential transactions dominating mergers and acquisitions this quarter, JLL also announced that there was an industrial park transaction.
Accordingly, Ascendas-Singbridge transferred a plot of 0.3 hectare - land in Singapore's Ascendas-Protrade Industrial Park (APSTP) to Koan Hao Technology company, a Taiwanese manufacturer.
APSTP is a new 500 ha - industrial park in Binh Duong province that specializes in providing industrial space, already built factories and design solutions for customers.
According to JLL, in the next quarters, the demand for investors in Vietnamese real estate market will increase. In particular, investors from Japan, Korea, Singapore, Hong Kong and China are paying great attention to the Vietnamese market with the need to find a clean land fund to launch project in a quick and effective way.
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Essensia Parkway is set to mark a significant milestone as the first branded residences project in Ho Chi Minh City to be operated by WorldHotels – one of the finest portfolios of independent hotels and resorts within BWH Hotels.
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