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SingHaiyi buys California condo project for US$33m

This is its second distressed purchase after Tri-County Mall in Cincinnati, Ohio

Distressed development: Vietnam Town has several parcels of land sitting on a total site area of 853,502 square feet. Of the 256 planned condominium units - each about 1,000 square feet - 115 have been built, of which 64 have been sold

LESS than two months after buying a major mall in downtown Cincinnati, Singapore-based SingHaiyi Group has made a second purchase of a distressed property in the United States.

The Catalist-listed property group said yesterday that it has acquired the full equity stake of Vietnam Town, a

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