CapitaLand Group, a leading real estate firm based in Singapore, is reportedly in talks to acquire assets worth approximately $1.5 billion from Vinhomes JSC, the largest listed property company in Vietnam. If successful, the deal would be one of the biggest real estate transactions in Southeast Asia in recent years.
The acquisition discussions come at a time when Vietnam’s real estate sector is experiencing a cash crunch due to an anti-graft campaign launched by the government in 2022. CapitaLand, which is majority-owned by Singapore state investor Temasek Holdings, has been in discussions with Vinhomes for a few projects owned by the latter, according to sources.
Vinhomes, which is part of Vingroup, Vietnam’s largest conglomerate, is the country’s biggest real estate developer by market capitalization. One of the sources stated that CapitaLand is considering acquiring part of Vinhomes’ Ocean Park 3 project, a 294-hectare resort city-style development near Hanoi, or another project in the northern city of Haiphong. The sources, however, requested anonymity due to the sensitivity of the matter.
CapitaLand Development did not explicitly comment on the prospective deal with Vinhomes but noted that “Vietnam is one of CapitaLand Development’s core markets. We constantly evaluate investment opportunities to grow our presence in the country.” CapitaLand Group, which has a presence in 40 countries, develops retail, office, residential, business parks, and data centres, among other businesses. It already has a portfolio of residential projects, including luxury condominiums, in four Vietnamese cities.
Vingroup declined to comment on any discussions with CapitaLand, but as a listed company, it would disclose information if any transactions happen. The conglomerate is investing billions of dollars to establish VinFast, its fledgling electric vehicle carmaker, and is involved in real estate, automobiles, and retail.
Vietnam, which has a population of 100 million, was Asia’s fastest-growing economy last year, expanding by 8%, the fastest pace in 25 years. However, it is facing headwinds from a global slowdown. The country’s economy was adversely affected by a property crisis last year, triggered by issues at one of its biggest property groups, Novaland. The crisis battered investor confidence as high-level individuals were arrested, and the country’s bond sector was overhauled.
In 2022, Vinhomes’ net profit decreased by 26% to 29 trillion dong ($1.23 billion) from the previous year, while total revenue dropped by 27% to 62 trillion dong. Vinhomes’ shares have already fallen by 10% this year, following a 40% drop in 2022 as the property crisis worsened.
CapitaLand Group’s potential acquisition of Vinhomes’ assets in Vietnam is indicative of its interest in growing its presence in the country. The real estate sector in Vietnam has been grappling with significant challenges lately, but CapitaLand’s interest in investing in the region suggests the country’s long-term economic prospects are still attractive.
The latest announcement by Twitter CEO Elon Musk about changes to the verification system has left many users confused and concerned. #twitter #techbiz #technology #business #bluecheckmark
The Tiktok Congressional hearing has sparked a firestorm of contrasting viewpoints on the perspectives of the two sides. Many Americans voiced disappointment and frustration over the lawmakers’ arguments and questions, which revealed their ignorance of technology, social media, and Tiktok, making their speech a laughing stock for viewers.
Dozens of American companies are in Vietnam this week to explore local investment opportunities in one of the fastest-growing economies in the world.
GSM, a subsidiary of Vingroup’s electric vehicle leasing company, has invested in Be Group to bring Vinfast electric cars and motorbikes into their transportation services.
Every year, the Spanish city of Valencia becomes a hub of excitement and activity as it celebrates one of the most unique and spectacular festivals in the world: Las Fallas.
Silicon Valley Bank is a technology-focused bank that was founded in the United States in 1983 to provide financial services to startups and other technology companies.
From being rejected on Shark Tank to becoming a guest Shark and eventually selling his company, Ring, for over a billion dollars to Amazon, Siminoff’s journey is nothing short of inspiring.
Amazon’s CEO Andy Jassy has just announced in a memo to staff that Amazon is set to lay off an additional 9,000 employees in the coming weeks.
The global banking crisis has taken center stage as Credit Suisse became the latest bank to be taken over by a rival in a rapid, orchestrated deal by Swiss authorities.
TikTok has faced bans in multiple countries, including the United Kingdom, the United States, Canada, and New Zealand. The reasons for these bans vary, but they all reflect concerns about TikTok’s links to China through its parent company, ByteDance, and the possibility that the Chinese government could pressure the company to hand over users’ personal information.
-
Cultural differences between the East and the West
-
Vietnam received recognition in the 29th World Travel Awards in numerous categories
-
Vietnamese dishes that fascinate foreigners
-
First NFT vending machine in the world is now operational in New York
-
The LEGO Group today began construction on a new $1 billion factory in Binh Duong, Vietnam
-
19 DeFi Startups To Watch

Jack Ma’s inspiring startup stories and lessons learned: How to overcome the toughest challenges!

Alibaba founder Jack Ma’s return to China enhances Chinese entrepreneurs’ confidence in the domestic market as pressure from the US market mounts

Alibaba founder Jack Ma’s return to China enhances Chinese entrepreneurs’ confidence in the domestic market as pressure from the US market mounts

Twitter’s Blue Check Mark System Undergoes Major Changes: Users and Businesses to Pay Up for Verification

Valencia Fallas: A Spectacular Celebration of Art, Fire, and Tradition

Vietnamese cuisine recognized by international chefs and media as one of the healthiest cuisines in the world

Valencia Fallas: A Spectacular Celebration of Art, Fire, and Tradition

Hong Kong Airlines Offers Free Round-Trip Economy Fare in Click & Go Promotion

52 US firms, including corporate giants Boeing and Netflix are in the biggest business mission to Vietnam

The Collapse of Silicon Valley Bank: Lessons Learned and Risks Highlighted in the Current Financial System

Talks with Leaders, Ep8: 1st AI Doctor Assistant in Vietnam provides 90+% correct diagnosis within 5s

Talks with Leaders, Special episode: Blockchain meets Metaverse, featuring business leaders, investors, tech experts and global influencers

Appointing AI Robot as CEO, a Chinese company’s Share Price Increases by 10%

Jack Ma’s inspiring startup stories and lessons learned: How to overcome the toughest challenges!

Valentino Joins the Metaverse: An Exciting Partnership with UNXD

Most popular technical terms in Crypto you should know about

Most popular technical terms in Crypto you should know about

Valencia Fallas: A Spectacular Celebration of Art, Fire, and Tradition

Appointing AI Robot as CEO, a Chinese company’s Share Price Increases by 10%

Jack Ma’s inspiring startup stories and lessons learned: How to overcome the toughest challenges!

TikTok faces increasing government scrutiny and bans around the world

Most popular technical terms in Crypto you should know about

Valencia Fallas: A Spectacular Celebration of Art, Fire, and Tradition

Vietnamese cuisine recognized by international chefs and media as one of the healthiest cuisines in the world

52 US firms, including corporate giants Boeing and Netflix are in the biggest business mission to Vietnam

The Collapse of Silicon Valley Bank: Lessons Learned and Risks Highlighted in the Current Financial System
- Jack Ma’s inspiring startup stories and lessons learned: How to overcome the toughest challenges! - March 29, 2023
- Alibaba founder Jack Ma’s return to China enhances Chinese entrepreneurs’ confidence in the domestic market as pressure from the US market mounts - March 28, 2023
- Twitter’s Blue Check Mark System Undergoes Major Changes: Users and Businesses to Pay Up for Verification - March 26, 2023