An artist’s impression of Saigon Sports City. Photo courtesy of Saigon Sports City
Singapore property developer Keppel Ltd is set to sell a 70% stake in HCMC residential property Saigon Sports City to two Vietnamese companies for VND7.4 trillion (US$300 million).
Its subsidiary, Jencity, will sell 35% each to HTV Dai Phuoc and Vinobly Investment Real Estate and retain the remaining 30%.
The 64-hectare development, part of the Rach Chiec Sports Complex, will have high-end residential areas, commercial and service zones and sports facilities when completed.
Its construction began at the end of 2019, but little has been completed since.
Singapore-headquartered Keppel has been in Vietnam since the early 1990s, and become one of the leading foreign property developers.
From: VnexPress
Real Estate News
