Keppel aims to expand business in Vietnam

At a meeting with Chairman of the National Assembly Tran Thanh Man on December 3, Kevin Chng, CFO of Keppel Group, said that Vietnam is one of the countries where Keppel has allocated a significant portion of its investment resources.

Aiming to expand its investment activities into sustainable development areas such as renewable energy and data infrastructure, the company wishes to receive more support from Vietnamese authorities to boost the effectiveness of its capital and further contribute to the nation’s sustainable development, Chng said.

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.

Vietnam is one of Keppel’s key markets. Over three decades, Keppel has grown to become one of the largest foreign real estate investors in the country, with 25 projects and a total registered capital of approximately $3.8 billion.

The company has partnered with local players, such as Khang Dien and Phu Long, to deliver transformative projects that contribute to Vietnam’s urban landscape and economic development.

As a global asset manager and operator, Keppel is well-positioned to capture growth opportunities in Vietnam.

The company is developing real estate market in Vietnam via quality investment platforms and asset portfolios, and also in the areas of infrastructure and connectivity.

For example, it has identified potential pipeline assets for the Keppel Vietnam Fund (KVF), a private fund which combines capital from Keppel and global institutional investors to invest alongside Keppel in real estate projects, including residential developments, commercial properties, mixed-use projects, and townships, with a focus on Ho Chi Minh City and Hanoi.

To date, KVF has invested alongside Keppel in several high-quality residential projects in Hanoi and Ho Chi Minh City. When fully leveraged and invested, the fund will potentially have assets under management of approximately $1 billion.

Looking ahead, Keppel remains committed to expanding its presence in Vietnam in the greater Ho Chi Minh City and Hanoi areas.