VNRE - Japanese and Singaporean real estate companies announced a joint project to invest in the housing market in Vietnam on November 25.
They plan to construct four residential complexes covering 14,000 sq. metres in Hanoi and 962 units in Ho Chi Minh City and also expect to invest in commercial facilities in the near future.
The total investment capital of the venture is expected to reach US$215 million, with 75 percent of the total coming from two Singaporean real estate firms, including CapitaLand Company and the real estate investment division of Singapore’s sovereign wealth fund, GIC. The Japanese company Mitsubishi will contribute 25 percent of the investment capital.