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SCIC to work with Keppel Land

Released at: 18:44, 23/03/2017

SCIC to work with Keppel Land

Photo:Keppel Land

Partnership to see State Capital Investment Corporation and Keppel Land collaborate on projects in Vietnam and put Keppel Land in good stead as it expands its presence in the country, according to Keppel Land CEO.

by Thu Hoang

Singapore’s Keppel Land signed a Memorandum of Understanding (MoU) on March 23 with the State Capital Investment Corporation (SCIC) over cooperation in investment opportunities in Vietnam.

The MoU was signed in Hanoi between Mr. Ang Wee Gee, CEO of Keppel Land, and SCIC Chairman Mr. Nguyen Duc Chi, and witnessed by Prime Minister Nguyen Xuan Phuc and Singaporean Prime Minister Lee Hsien Loong, who is on a four-day official visit to Vietnam from March 21-24.

“Vietnam is one of Keppel Land’s key growth markets and where we are committed to deepening our presence,” said Mr. Ang. “We are constantly on the lookout for strategic alliances with like-minded partners, to grow our business. This win-win partnership will see Keppel Land and SCIC collaborate on projects in Vietnam and put Keppel Land in good stead as we look towards scaling up our presence in the country.”

As one of Asia’s premier property companies, Keppel Land is geographically diversified in the region, with Singapore and China as its core markets and Indonesia and Vietnam as growth markets.

In Vietnam, Keppel Land has developed a diverse portfolio of properties in Hanoi, Ho Chi Minh City, Dong Nai and Vung Tau, including Grade A offices, residential properties, integrated townships, and serviced apartments, with 20 licensed projects nationwide and a pipeline of more than 25,000 homes.

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