HCMC – Singapore’s Keppel Land and Vietnamese real estate developer Khang Dien Group yesterday, February 10, signed a memorandum of understanding (MOU) to develop residential and sustainable urban area projects in HCMC.

The MOU signing was witnessed by Vietnamese Prime Minister Pham Minh Chinh during his official visit to Singapore and Tan See Leng, Singapore’s Minister for Manpower and Second Minister for Trade and Industry, along with other government officials from both countries.

Speaking at the signing ceremony, Louis Lim, CEO of Keppel Land, said, “Keppel Land is committed to expanding our presence in Vietnam, a key market where we see long-term growth potential.

“We are confident that Keppel’s suite of sustainable urban space solutions, proprietary digital initiatives and access to third-party funds for co-investments, will be a strong complement to Khang Dien Group’s decades of experience and networks in Vietnam’s real estate market.”

Mai Tran Thanh Trang, board chairwoman of Khang Dien Group, said, “We are delighted to collaborate with Keppel Land, a reputable Singaporean urban space solutions provider. We believe that Keppel Land’s capabilities and experience in high-quality real estate development across the world as well as long-term investment commitment in Vietnam, along with Khang Dien’s deep understanding and principles of sustainable operations, will synergize to reaffirm both companies’ efforts to develop completed townships and contribute to the sustainable development of Vietnam, especially HCMC.”

Keppel Land entered Vietnam in the early 1990s. Over the past three decades, Keppel Land has become one of the largest foreign investors and contributors to urban development in the country, with more than 20 projects and total registered investment capital of about US$3.5 billion.

In Vietnam, Keppel Land has developed quality residential developments, such as Estella Heights, Celesta Rise and Empire City, as well as Grade A commercial developments, such as the Saigon Centre in HCMC. As Vietnam continues to undergo rapid urbanization, Keppel remains committed to contributing to the country’s sustainable development journey with its diverse urban space solutions.

Keppel Land is a wholly-owned subsidiary of Keppel Corporation, a Singapore flagship multinational company providing solutions for sustainable urbanization, focusing on energy and the environment, urban development, connectivity and asset management.

Khang Dien Group is well known as one of Vietnam’s leading real estate companies. Established in 2001 and headquartered in HCMC, Khang Dien has developed property projects across the city, and the company has been listed on the Hochiminh Stock Exchange since 2010.