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Singapore real estate players “active” in Vietnam’s fast-growing property industry

Singaporean real estate players are active in all the segments of Vietnam’s property market, and have been “reaping fruits” in the country over the last many years, according to a report by VietNamNet Bridge.

In addition, Phan Huu Thang, Director of the Foreign Investment Studies Center in Vietnam has been quoted by Dien dan doanh nghiep as saying that Singapore has always been one of the biggest foreign investors in Vietnam, with the country investing over 5 billion dollars in the real estate sector since the 1990s.

Singapore’s real estate firms such as SembCorp, CapitaLand, Keppel Land and Banyan Tree have been the Republic’s flag bearers in Vietnam’s burgeoning property industry.

SembCorp has been heavily involved in the industrial zones within Binh Duong province, Bac Ninh province and Hai Phong City. It is also expected to star work in Quang Ngai province shortly.

CapitaLand on the other hand has been targeting the hospitality segment, achieving great success in the process. Its projects include Hanoi Tower, Sofitel Plaza Hanoi, InterContinental Hanoi Westlake and Somerset hotels. The corporation now has its eyes on the residential quarter and urban area projects in the country.

Another Singapore developer, Keppel Land, is also within the residential market. It has 18 projects, mostly in the high-end segment under its name, totalling nearly two billion dollars in investment capital. In addition, it has also set its sights on building residential projects for the lower income earners within the next 5-10 years.

LangCo Beach Resort

Not wanting to be left out is the Banyan Tree Group with the development of the Laguna Lang Co in Hue province. According to its website, it is scheduled to open to the public in November 2012.

With these Singapore companies prospering in developing Vietnam, would other developers from the country be making the beeline? Only time will tell. Do watch this space.

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