14 Feb '17, 2pm

CapitaLand Limited has increased its stake in CTD, which holds a mixed use development in Ho Chi Minh City

CapitaLand Limited has increased its stake in CapitaLand-Thien Duc Company Limited (CTD), after its wholly owned subsidiary, CLV Investment 5 Limited, acquired a 20 percent stake in the Vietnam incorporated company for US$17.9 million (S$25.4 million). CTD holds a mixed use development in Ho Chi Minh City known as Vista Verde which features 1,152 residential units. It also owns two land plots within the vicinity of Vista Verde which will be developed into high-rise residential units and landed shop houses. In a release, CapitaLand revealed that the acquisition is consistent with its “strategy to increase its residential development portfolio in Vietnam”. It added that the consideration was “arrived at on a willing-buyer and willing-seller basis, taking into account the adjusted net tangible asset value of the acquired interest of US$17.9 million (S$25.4 million) based on t...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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