Keppel Land : waterfront developments in Ho Chi Minh City garner positive response

Keppel Land has achieved strong take-up for its two waterfront residential developments, Palm City and The View at Riviera Point in Ho Chi Minh City (HCMC), Vietnam.

Mr Linson Lim, President (Vietnam), Keppel Land, said, 'The positive take-up at Palm City and The View, with about 800 units booked across the two projects in the second half of 2016, reflects confidence in Keppel Land's homes in Vietnam. The developments' value propositions such as prime location, wide array of amenities and thoughtful innovations, are strong draws to genuine homebuyers.'

Palm City is a 30-hectare integrated waterfront township jointly developed by Keppel Land and Vietnamese partners, Tien Phuoc and Tran Thai. The project is strategically located by Giong Ong To and Muong Kinh Rivers in District 2, and is a 15-minute drive from the central business district. To be developed in phases, Palm City will comprise about 5,000 apartments, retail, commercial, educational and medical facilities when fully completed. The township will also house The American School's new expanded campus.

Palm Residence, Phase 1 of Palm City, comprising 135 landed homes ranging from terrace and semi-detached houses, was 100% booked in a private preview held over one weekend in July. Following its sell-out success, Keppel Land and its partners launched the 816-unit Palm Heights to prospective homebuyers in October 2016. To date, about 570 homes at Palm Heights have been booked at an average price of VND 32,500,000 (US$1,450) per sm.

Separately in District 7, Keppel Land and joint venture partner, Tan Truong, launched The View, Phase 1B of the Riviera Point development. About one-third of the 345 launched units at The View at Riviera Point have been booked at an average price of VND37,000,000 (US$1,600) per sm. The project comprises a total of 518 units.

Riviera Point is the tallest condominium in District 7 with a 500 metres frontage to the Ca Cam River. When fully completed, it will offer 2,400 units of quality homes to be developed in several phases. Phase 1A, comprising 549 units, was completed in 2014. As at end-September 2016, about 95% of the development has been sold. In September, Keppel Land and its partner opened the new link bridge over the Ca Cam River, providing residents of Riviera Point convenient access to the myriad of amenities in the nearby Phu My Hung township.

Keppel Land is also developing Empire City at a prime 14.6-hectare waterfront site in the upcoming Thu Thiem New Urban Area, slated to be HCMC's new business district. The development will comprise premium residential apartments, office and retail properties as well as an 86-storey integrated mixed-use tower complex. Phase 1 of the integrated waterfront development comprising more than 500 premium high-rise apartments, is expected to be launched later this year.

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About Keppel Land Limited

One of Asia's premier property companies, Keppel Land, a subsidiary of Keppel Corporation Limited, is recognised for its sterling portfolio of award-winning residential developments and investment-grade commercial properties as well as high standards of corporate governance and transparency.

The Company is geographically diversified in Asia, with Singapore and China as its core markets as well as Indonesia and Vietnam as its growth markets.

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

With 19 licensed projects across Vietnam and a pipeline of more than 25,000 homes, Keppel Land is establishing itself as the choice developer, distinguished by quality and innovative lifestyle concepts.

About Palm City

Palm City is a 30.2 hectare integrated waterfront development strategically situated in the tranquil An Phu Ward which offers excellent views of the Giong Ong To and Muong Kinh Rivers in District 2. The development is a 15-minute drive from the central business district and is easily accessible via the East-West Highway and HCMC-Long Thanh-Dau Giay Expressway. The new central business district at the up-and-coming Thu Thiem New Urban Area is also within a five-minute drive away.

To be developed in phases, Palm City comprises a mix of landed residential housing, shophouses, high-rise apartments, commercial buildings, shopping centre and supporting amenities including kindergarten, school, hospital and parks.

About Riviera Point

Located along the Ca Cam River, Riviera Point is linked to the established Phu My Hung township via the Phu Thuan Bridge and the new link bridge over Ca Cam River. It is within walking distance to international schools, a hospital, banks and a variety of dining options.

When completed, the 40-storey high Riviera Point will be the tallest condominium development in District 7 offering 2,400 high-end apartments amidst lush landscaping. A retail and food and beverage belt will be developed along the river promenade, allowing for alfresco dining experiences.

For more information, please contact:

Eileen Tan
Senior Executive
Group Corporate Communications
Keppel Corporation Limited
Tel: (65) 6413 6430
Email: eileen.tan@kepcorp.com