Keppel Land has set up another joint venture in Vietnam to develop its eighth residential development in the country. The venture with Hung Phu Real Estate Investment Corporation will develop a 10-hectare site into a premier waterfront enclave in Ho Chi Minh City.
The site will yield about 140 luxury villa homes, bringing Keppel Land's existing pipeline to more than 25,000 homes in Vietnam.
The project is expected to be launched in early 2009.
Keppel Land will take a 60 percent stake in the venture, which has an investment capital of S$83 million. - CNA /ls
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