BCG Land and Keppel ​​​​​​​collaborate to elevate urban living

The partnership focuses on integrating modern retail spaces into three premium residential projects by BCG Land across Ho Chi Minh City, spanning a combined total area of 15 hectares.

Keppel will play a pivotal role in this collaboration by providing retail consultancy and management expertise, ensuring the retail components of these developments align with international standards and offer a distinctive shopping experience. This strategic alliance underscores a shared vision to elevate urban living by blending vibrant commercial hubs with high-quality residential environments.

This agreement marks a milestone in the development of the commercial block in the modern mixed-use luxurious apartment and commercial centre projects in the centre of Ho Chi Minh City that BCG Land is developing.

With the goal of becoming one of the top 5 real estate enterprises in Vietnam, BCG Land seeks and cooperates with prestigious international partners to improve project quality. The signing with Keppel is part of the strategy to expand and develop a modern commercial centre, benefiting the residents and helping to up-lift the long-term value of the project.

Nguyen Thanh Hung, vice chairman cum CEO of BCG Land said, "In our project's development plan, BCG Land is flexible in connecting and cooperating with partners who are reputable domestic and international equipment suppliers and project operators, capable of providing quality products and services to ensure the best experience for customers. We believe that Keppel can bring a unique and classy shopping experience to the projects we are developing."

Evelyn Tan, head of Retail Business Development, Real Estate, Keppel Ltd. said, “Keppel is honoured to be able to enter into an MoU to explore forming a strategic cooperation with BCG across their multiple assets well-located in key population growth districts in Ho Chi Minh City. With over 30 years of deep-rooted operations know-how and our retail domain expertise in Ho Chi Minh City, we are confident in the rising affluence and optimistic consumerism growth story of Vietnam, and we look forward to materialising this partnership with BCG in the near future to bring about a differentiated retail experience for Saigon’s consumers.”

Keppel is a global asset manager and operator with strong expertise in sustainability-related solutions spanning the areas of infrastructure, real estate and connectivity. Headquartered in Singapore, Keppel operates in more than 20 countries worldwide, providing critical infrastructure and services for renewables, clean energy, decarbonisation, sustainable urban renewal and digital connectivity.

In Vietnam, Keppel is a pioneer and one of the largest foreign real estate investors with a quality portfolio in Hanoi and Ho Chi Minh City, including Grade A offices, residential properties, retail malls, integrated townships and award-winning serviced apartments.

In the retail sector, Keppel has established a strong presence through the development and management of two prominent shopping malls in Ho Chi Minh City: Saigon Centre and Estella Place. Renowned for their modern design and customer-centric approach, these malls have become popular destinations for city residents and visitors alike, hosting a wide range of domestic and international brands.

Keppel has received the Sustainable Design Award at the PropertyGuru Vietnam Property Awards 2024, a testament to its dedication to global green standards and leadership in sustainable development. Drawing on its expertise in sustainable management, Keppel is collaborating with BCG Land, a developer known for its commitment to reducing emissions and using eco-friendly materials. Together, they aim to position King Crown Infinity in Thu Duc city as a hallmark of green and sustainable development.

During the first discussion, both ends agreed that King Crown Infinity project would be the priority to determine coordination and collaboration framework in lieu of the planned project implementation schedule.

King Crown Infinity is the first high-end apartment and commercial center complex project of BCG Land, located in a prime location on Vo Van Ngan Street, the centre of Thu Duc District, Ho Chi Minh City.

With a scale of 12,600 sq.m, the project includes two towers named Apollo and Artemis with 30 floors above ground and 5 basements, providing 724 luxury apartments and a podium block of high-end commercial centres. The project is currently in the final stage of constructing the fourth floor and scheduled to finish the entire project by the end of 2025, or early 2026.

The profit of Bamboo Capital Group (BCG) is expected to grow tremendously during 2019-2023 thanks to a series of real estate as well as renewable energy projects, especially Radisson Blu Hoi An and King Crown Village Thao Dien.

Speaking at the 2024 Vietnam M&A Forum hosted by VIR on November 27 in Ho Chi Minh City, Lee Leong Seng, head of property development at Keppel Vietnam, emphasised that now is the ideal time for global companies to collaborate with local businesses to create high-quality real estate products.

To make a deal successful, the post-M&A period must be harmonious for both parties, whether it is a deal between domestic businesses or with foreign investors, according to Pham Minh Tuan, executive vice chairman of Bamboo Capital Group (BCG).