Mapletree bags prime asset in Saigon CBD for over S$400m
Group still keen on more income-producing completed assets as well as development opportunities in Vietnam
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Kalpana Rashiwala
Singapore
MAPLETREE Investments has bought Kumho Asiana Plaza Saigon, a completed mixed development in the heart of Ho Chi Minh City's (HCMC) central business district. The price is understood to be the equivalent of more than S$400 million and takes Mapletree's total assets under management in Vietnam to more than S$1 billion. The deal was completed on Thursday.
Mapletree bought the property from Korea's Kumho Industrial Company and Asiana Airlines.
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