CapitaLand will establish a $500 million fund next year to invest in commercial property, primarily in Ho Chi Minh City and Hanoi.
“Given the mismatch between demand and supply, the Group sees strong demand in the Grade A office sector, particularly in Ho Chi Minh City,” a CapitaLand spokesperson told VET.
“We see opportunities in the commercial space in Vietnam so we are prepared to take a position,” President and Group Chief Executive Lim Ming Yan said on Straitstimes.com.
“I think the general trajectory for Vietnam is favorable and we foresee that this trend will continue for at least the next ten years.”
Seed projects for the new commercial fund have been identified and the group is in talks with capital partners. Mr. Lim said. “If you talk to many of these sovereign wealth funds and pension funds, they feel they are underexposed to Asian real estate at this point and are prepared to allot more capital,” he explained.
This will be CapitaLand’s second investment fund in Vietnam, after a $200 million fund launched in 2010 that has been fully invested in the development of three residential projects in Ho Chi Minh City and Hanoi. Capital partners were sovereign wealth fund GIC and Mitsubishi Estate Asia.
The developer has set a target of raising funds with total assets under management (AUM) of up to $10 billion from various private investment vehicles by 2020. CapitaLand Vietnam aims to grow its funds under management to $1 billion by next year to support the group’s AUM goals.
It also plans to acquire more sites in Vietnam for residential development – possibly yielding 2,000 to 2,500 units – as demand for housing is expected to increase amid rising urbanization and a growing middle class.
Vietnam Import-export value surpasses 74 billion USD since 2021’s beginning
Vietnam’s import-export turnover posted a year-on-year rise of 31 percent to reach 74.51 billion USD from the beginning of 2021 to February 16.
In the reviewed period, Vietnam enjoyed a trade surplus of 2.63 billion USD, according to the Vietnam Customs.
During the Tet (Lunar New Year) holiday 2021 from February 10-16, a total of 960 firms conducted import-export activities, up 363 against the Tet holiday 2020.
A total of 10,300 customs declaration forms were filled out, up 59 percent against the previous holiday.
Meanwhile, the import-export value hit 1.67 percent, a year-on-year increase of 53 percent.
Main exports included mobile phones and spare parts, computers, electronics and components./.
Foreign capital still heads to Vietnam
As many as 798 projects added a combined over 5.11 billion USD to their investment capital, down 23 percent year-on-year in project number but up 6.8 percent in value.
Hanoi (VNA) – The total amount of foreign investment poured into Vietnam this year to September 20 reached 21.2 billion USD, equivalent to 81.8 percent of the same period last year, reported the Ministry of Planning and Investment.(more…)
Why Vietnam Has Become a Promising Alternative for US Businesses in Asia
Vietnam Briefing discusses trends in the Vietnam-US relationship, growing economic ties, and how US businesses can leverage and benefit from moving their production to Vietnam.
Thailand to further ease COVID-19 restrictions
The Cabinet approved to ease the level of control over the country under the COVID-19 situation including relaxing businesses and...
BoI plans more efforts to promote BCG economy
BANGKOK (NNT) – The Board of Investment (BoI) is working with related agencies to rev up promotion of the bio-,...
ASEAN, Canada, UN Women launch 5-year programme to advance Women, Peace and Security Agenda
Jakarta/Ottawa/New York, 24 February 2021 – The Association of Southeast Asian Nations (ASEAN), Canada and UN Women jointly launched today...
Covid-19 Thailand Situation Report
COVID-19 situation in Thailand On 15th February, 143 new cases of laboratory-confirmed COVID-19 were announced by the Ministry of Public...
Market for Alternative Investment (MAI) welcomes reinsurance broker “TQR”
SET News 11/2021 February 16, 2021 mai welcomes reinsurance broker “TQR” on Feb 17 BANGKOK, February 16, 2021 – The...
THAI airways to sell training center building to raise more funding
THAI airways has been hit hard by limited travel due to the COVID-19 pandemic, which comes as they were entered...
Subscribe via Email
Asean4 days ago
India, ASEAN Agree to Review FTA Scope, Address Uneven Market Access
Health3 days ago
200,000 doses of COVID-19 vaccine Distributed to 13 Thai provinces
Economics7 days ago
Thailand-China sign deal promoting Thai fruit export
Tourism5 days ago
Adjustments in Thailand’s tourism industry