Key facts
- Keppel Ltd. is expanding its residential property development in Hanoi, Vietnam.
- The company is increasing its focus on the northern Vietnamese property market.
- Housing prices in Hanoi are experiencing a surge due to high demand.
- Keppel's Hanoi Centre retail development is scheduled to fully open in July.
- Keppel has invested approximately $3.8 billion in 25 projects across Vietnam over 30 years.
- The company is also exploring opportunities in data centers and energy solutions in Vietnam.
Global asset management firm Keppel Ltd. is significantly increasing its investment in Vietnam's capital, Hanoi, by planning multiple residential projects. This expansion is driven by a surge in housing demand and rising property prices in the region. The company aims to leverage its extensive experience in developing quality residential and commercial properties, having already invested approximately $3.8 billion across 25 projects in Vietnam over the past three decades.
Keppel's strategy includes strengthening its retail presence, with the Hanoi Centre retail development slated for a full opening in July. This project, located in Ba Dinh District, will feature five floors with nearly 240 stores, international and local brands, and diverse entertainment options. The development has already received recognition, winning "Best Retail Interior Design" at the PropertyGuru Vietnam Property Awards 2024.
Beyond real estate, Keppel is exploring opportunities in data centers and energy solutions, offering an energy-as-a-service model to businesses in Vietnam. The company emphasizes sustainability in its operations, integrating green features and promoting sustainable urban renewal initiatives. Keppel Vietnam Fund, a private fund, co-invests with global institutional investors in various property types across Vietnam, underscoring the company's commitment to the market.