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SINGAPORE : Keppel Land (KepLand) is expanding its presence in Vietnam with two joint ventures with Vietnamese property developer An Phu Corporation.
The joint ventures will develop luxury villas and condominiums in Ho Chi Minh City.
The combined investment for the two projects is estimated at US$213 million (S$320 million).
KepLand will have a 55 percent stake while An Phu will subscribe for the remaining interest.
The villas will be built on a 13-hectare site which can yield about 200 premier residences.
The condominiums will be located on an adjacent 6.8-hectare site. The site can yield over 1,900 apartments.
Sales for the first phase is slated to start in early 2009. - CNA /ls
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