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| VinaCapital to establish a new fund |
7/22/2009 10:19:28 AM
A property fund worth US $350 million in Vietnam will be founded and launched by the 4th quarter of 2009 VinaCapital, the company’s Deputy Director for property, David Blackhall said recently. The fund will be named VinaLand Partners and will focus investment on property projects in Vietnam.
According to the company’s officials, VinaLand Partners will not be listed on the securities market; but, when it enters a project, it will mobilize capital for the project from its limited partners. They also affirmed that the new fund will invest in buildings for retail sale, high-quality housing, hotels, and resorts; but, not in apartments and offices.
The fund will be operational in 8 years and focus its business in the 2 largest Vietnamese cities of Hanoi and Ho Chi Minh City. Additionally, there is consideration to expand its business to Laos and Cambodia. |
| VNBusinessNews |
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