Japanese investors lead M&A in real estate market

Real estate M&As in Vietnam remain attractive to Japanese buyers In January, Mitsubishi Corporation and Nomura Real Estate Co., Ltd. acquired the majority shares (80 per cent) of the Grand Park Project by Vinhomes, including over 10,000 units of condominiums in Ho Chi Minh City. According to Mitsubishi, this township covers approximately 365 hectares in total and will include offices, residences, sports and commercial facilities, schools, hospitals, and parks for about 200,000 people. Not being a newcomer in Vietnam’s M&A market, Mitsubishi had previously co-operated with local property developer Bitexco to create 240 low-rise housing units and two high-rise condominiums out of a proposed total of more than 1,000 low-rises and 17 high-rises at The Manor Central Park project in Hanoi. In Ho Chi Minh City, the company is also involved in a range of projects developed by ¬domestic Phuc Khang Group. Meanwhile, Nomura Real Estate Group had acquired 24 per cent stakes in Sun Wah Tower in addition to the Zen Plaza office building in the heart of Ho Chi Minh City. Moreover, Nomura co-operated with Phu My Hung Development Corporation to develop the Midtown Phu My Hung Complex in the city’s District 7. Under its new medium- to… Read full this story

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