SINGAPORE - Keppel Corp, through a Keppel Land unit, has entered into a conditional investment agreement and a joint venture agreement with various firms to invest in Empire City, for about US$93.9 million.
Empire City has received approval from the People's Committee of Ho Chi Minh City to lease a site for 50 years in the south of the core of Thu Thiem New Area, in the city.
The firm plans to design, construct and develop residential and mixed-use developments on the land.
Keppel Land's participation is subject to various conditions and regulatory approvals being obtained from the relevant authorities in Vietnam.
