10 May '11, 1pm

CapitaValue Homes, Khang Dien to develop homes in Vietnam

SINGAPORE : CapitaValue Homes, a wholly-owned subsidiary of CapitaLand Group, has signed a joint venture agreement with Vietnamese property developers Khang Dien Sai Gon Real Estate to build 975 value homes on a 29,000 square metre site in Ho Chi Minh City, Vietnam. The total project cost is estimated to be US$70 million or S$88 million and will developed by a joint venture company set up by both CapitaValue Homes and Khang Dien. Upon approval of the joint venture company, CapitaValue Homes will hold a 70 per cent stake while Khang Dien will hold a 30 per cent stake of the company. The project is located in the established residential site of Binh Trung Dong Ward, about nine kilometres or 20 minutes away from Ho Chi Minh City's Central Business District. It is close to the upcoming Ho Chi Minh-Long Thanh Highway, as well as the Saigon Sports City and Saigon Golf Mixed-use ...

Full article: http://www.channelnewsasia.com/stories/singaporebusinessn...

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