Keppel Land unit sells 100% stake in Willowville for US$5.5m

KEPPEL Corporation said on Wednesday (Feb 8) that a unit of Keppel Land is selling its 100 per cent stake in Willowville for US$5.5 million.

Willowville has a 60 per cent stake in a project company that holds the rights to develop a site in District 1 in Ho Chi Minh City, Vietnam.

Oasis Asia Real Estate Investment, the purchaser, will make the payment to Keppel Land Vietnam Properties, a wholly-owned subsidiary, in two tranches, Keppel said in an exchange filing.

The sale is expected to take place in the first half of 2023.

Keppel added that the divestment is in line with its Vision 2030 asset monetisation plans to unlock capital.

Keppel shares fell 0.42 per cent, or S$0.03, to S$7.08 on Wednesday.

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