KepLand raises stake in Vietnam property project

KEPPEL Land, which owns 55 per cent of a residential development project in Vietnam known as The Estella, has entered into a deal to raise the stake to 98 per cent for the remaining two phases of the development.

The Singapore-listed company and its Vietnamese partner, Tien Phuoc Co Ltd, had embarked on the project through Estella Joint Venture Company Limited.

Keppel Land is paying Tien Phuoc US$11.46 million for the additional 43 per cent stake.