CapitaLand looking to invest in Vietnam's office segment: exec
[SINGAPORE] Singapore's CapitaLand Ltd is looking to invest in Vietnam's office property segment, its country head said, as the real estate developer seeks to grow its portfolio beyond residential and serviced apartments in the fast-growing economy.
Besides land, the company is looking to buy completed office buildings and upgrade them, Chen Lian Pang, chief executive officer of CapitaLand Vietnam, told Reuters. "If there is a potential to do asset enhancement, this is a kind of prime target that we are looking at," Chen said.
Vietnam is currently recovering from a property market bubble that burst four years ago, helped by the government's moves to restructure the banking sector and ease restrictions on overseas buyers.
The recovery has prompted CapitaLand and other foreign developers such as conglomerate Keppel Corp's unit Keppel Land, Amata Corp Pcl and Nishi Nippon Railroad to expand in that country's property market.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Telegram messaging service to allow Tether stablecoin payments
Hong Kong regulator to probe PwC auditing role over Evergrande
US: S&P, Dow open flat as Middle East jitters ease, Netflix weighs on Nasdaq
DBS puts 46 retail units, HDB shops on market for S$210 million
China to facilitate Hong Kong IPOs and expand Stock Connect
Global equity funds see surge in outflows as rate cut hopes fade