Foreign investor eyes Ho Chi Minh City real estate, with $9.5mn investment

The cooperation agreement with Phuc Thinh Design Construction Trading Corporation was signed in the southern metropolis on October 23.

Under the deal, the funding will be disbursed in phases, subject to commercial conditions, formal transaction documentation and applicable legal regulations.

The investment is intended to help the Vietnamese firm strengthen its project execution capabilities, adopt new construction solutions and expand its participation in larger-scale developments.

Phuc Thinh is expected to undertake construction work on two major residential projects in southern Ho Chi Minh City.

Together, the developments have a projected total investment of more than VND19 trillion ($742.7 million) and are expected to supply over 6,000 apartments to the market.

The first project, Green Oasis Residential, will carry a price tag of nearly VND7.65 trillion ($299 million).

It will comprise six 38-storey residential towers on a site covering 4.8 hectares.

The second development, Green Oasis Nha Be TOD Urban Complex, has a projected investment of more than VND11.4 trillion ($445 million).

The 9.8-hectare project will feature four 36-storey towers and a shopping mall.

It is also located near the planned metro line No. 4.

Brookland emphasized that the combined investment of more than VND19 trillion represents the projected total development cost of the two projects.

It should not be interpreted as the value of Phuc Thinh's construction contracts or the amount of capital Brookland has committed to invest.

Tran Minh Truc, an executive of Phuc Thinh, said the partnership with Brookland marked an important step in the company's efforts to gain deeper access to international capital markets.

The cooperation would provide additional financial resources to expand the company's construction capacity and enable it to participate in larger-scale projects, he said.

Meanwhile, Daniel Giancola, chief investment officer at Brookland, said Vietnam's deep integration into international capital markets was creating new opportunities for long-term institutional investors.