Property group Frasers Centrepoint Limited (FCL) is jointly developing a residential-cum-commercial project on a one-hectare residential site in Ho Chi Minh City at the cost of US$85 million ($115 million) with G Homes House Development Joint Stock Company.
G Homes is a joint venture between FCL and Vietnam-listed boutique developer An Duong Thao Dien Real Estate Trading Investment Joint Stock Company (ADTD).
FCL will acquire a 70% stake, or 35 million shares, in G Homes for $21.3 million. ADTD and other shareholders hold the remaining 30% stake in the JV.
“The macro trends in Vietnam, such as a growing middle class, rising urbanisation and increasing income, coupled with the improving financial environment and relaxation of foreign investment rules in Vietnam, make this an exciting time for real estate in Vietnam,” says FCL’s group CEO, Lim Ee Seng.
The residential site will be served by the city’s first metro line, which is slated for completion in 2020. It is also home to international schools and is residential enclave for expatriates.
FCL ended 0.63% lower at $1.58 on Tuesday.
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G Homes is a joint venture between FCL and Vietnam-listed boutique developer An Duong Thao Dien Real Estate Trading Investment Joint Stock Company (ADTD).
FCL will acquire a 70% stake, or 35 million shares, in G Homes for $21.3 million. ADTD and other shareholders hold the remaining 30% stake in the JV.
“The macro trends in Vietnam, such as a growing middle class, rising urbanisation and increasing income, coupled with the improving financial environment and relaxation of foreign investment rules in Vietnam, make this an exciting time for real estate in Vietnam,” says FCL’s group CEO, Lim Ee Seng.
The residential site will be served by the city’s first metro line, which is slated for completion in 2020. It is also home to international schools and is residential enclave for expatriates.
FCL ended 0.63% lower at $1.58 on Tuesday.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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