Singapore developers deepen long-term bet on Vietnam
Key drivers include its young and more well-educated workforce, as well as a growing middle class
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[SINGAPORE] Early bets on Vietnam decades ago have turned the country into a key growth market for Singapore developers, which are now expanding across various sectors, from housing to logistics, as the economy matures and its middle class grows.
Today, property players including CapitaLand, Mapletree, Keppel and Frasers Property have built sizeable portfolios across Vietnam’s residential, commercial, logistics and hospitality sectors, with more projects, funds and partnerships in the pipeline.
Keppel, for instance, has become one of the country’s largest foreign real estate investors, with 26 projects and registered investment capital totalling around US$3.9 billion. As at end-2025, its portfolio included an 8,600-home residential land bank and 401,000 square metres (sq m) of commercial space.
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