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Keppel Land and Khang Dien Group to collaborate on sustainable urban developments in Ho Chi Minh City

By Cecilia Chow

/ EdgeProp Singapore |

February 10, 2023 2:24 PM SGT

Louis Lim, CEO of Keppel Land (front row, first from left), and Mai Tran Thanh Trang, Chairwoman of the Board of Management of the Khang Dien Group (front row, second from right). Joseph Low, President (Vietnam) of Keppel Land (front row, second from left), and Vuong Van Minh, General Director of the Khang Dien Group, signed the MOU on behalf of the respective companies (Photo: Keppel Land)

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SINGAPORE (EDGEPROP) - On Feb 10, Singapore’s Keppel Land and Vietnam-based real estate company Khang Dien Group signed a Memorandum of Understanding (MOU) to collaborate on the development of residential projects and sustainable urban developments in Ho Chi Minh City.

Read also: Keppel acquires office tower in Seoul's CBD for $228.7 mil

Having entered Vietnam in the early 1990s, Keppel Land has developed more than 20 projects, with capital investments totalling US$3.5 billion. Keppel Land’s developments in Ho Chi Minh City include residential projects like Estella Heights and Celesta Rise and Grade-A commercial developments like Saigon Centre.

“Keppel Land is committed to expanding our presence in Vietnam, a key market where we see long-term growth potential,” said Louis Lim, CEO of Keppel Landl. “We are pleased to collaborate with like-minded partners, such as the Khang Dien Group, to grow our business as we contribute to Vietnam’s sustainable development.”

The MOU is non-binding and is not expected to have any material impact on the earnings per share and net tangible assets per share of Keppel Corp for the current financial year.

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