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Real estate MA growth continues

8 April 2017
VNS

The number of mergers and acquisitions (M&A) in Viet Nam’s real estate market will continue growing this year and beyond, according to Savills Viet Nam Ltd, Co.

Su Ngoc Khuong Investment Director of Savills Viet Nam, said M&A’s by foreign investors continued strong development in 2016 and 2017, especially from Japan, Hong Kong, South Korea and Singapore.

For instance, a Japanese investor bought 70 per cent of shares of A&B office building in HCM City, and Creed Group co-operated with two domestic investors, Phat Dat and An Gia, to develop commercial apartment projects.

Meanwhile, Singaporean investors stepped up their investment into the local property market. Keppel Land joined the Empire City project and CapitalLand increased its shares at The Vista project. Mapletree bought Kumho Asiana Plaza in District 1, HCM City.

Strong development of M&A on the market showed high confidence of investors and a new sustainable development cycle in local property market, Khuong said. With many projects of high potential, M&A would continue to be a popular model for investors to join the local market and implement their goals in development of business on local property market.

Khuong said M&A’s would continue to be essential when the market develops further and investors would have to prove their skills, experience and class to achieve cooperation opportunities and join deals with large value and potential.

According to a research by Savills Viet Nam, since 2014 the market has witnessed the strategic steps of investors, including mergers and acquisitions and development cooperation.

For instance, Gaw Capital acquired commercial property from Indochina Land with high value, while Gamuda Land bought shares of domestic investors at Celadon City project in HCM City.

M&A activities have taken place in various segments, such as a joint development venture of a resort project in Hoi An with a total investment at US$4 billion between Chau Tai Phuc Group and Suncity or Lotte’s acquisition on Diamond Plaza (District 1).

Khuong said that domestic investors also played an important role in M&A and development cooperation. Van Thinh Phat, VinGroup, Novaland and Sun Group became strategic investors when they have acquired potential projects or land to develop property products.

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