This was the projection made by analysts at the annual Vietnam Mergers and Acquisition Forum (MAF) this week, the country’s biggest M&A and investment networking event. Nguyen Thi Van Khanh, Investment Director at real estate service firm JLL Vietnam, told VnExpress that investors are switching to real estate M&A since it has become more and more difficult to find property projects not affected by procedures related to compensation and resettlement of affected people. Singaporean property developer Keppel Land has announced plans to acquire 60 percent of the ownership of three land lots measuring 6.2 hectares (15.3 acres) in Ho Chi Minh City via a $56 million acquisition deal between its subsidiary and Phu Long company. Lotte Land, the property subsidiary of South Korea’s Lotte Group, has joined hands with Vietnam’s FLC Group to establish Lotte FLC Joint Stock Company. Khanh’s statement was corroborated by experts at MAF who said issues related to land ownership are the main reason for M&A deals in the property sector. Le Song Lai, Deputy CEO of Vietnam’s sovereign fund State Capital Investment Corporation (SCIC), said: “It takes a long time and involves complicated procedures to get a clear title.” Dominic Scriven, Chairman of Dragon Capital,… Read full this story
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