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Keppel Land to raise stake in Vietnam project The Estella

Published on Jul 7, 2014 8:27 PM

SINGAPORE - Keppel Land will raise its shareholding in The Estella, a residential development in Vietnam's Ho Chi Minh City, the property developer said on Monday.

Keppel Land currently holds a 55 per cent stake in the Estella Joint Venture company. It has signed a conditional share purchase agreement to acquire an additional 43 per cent stake in phases two and three of The Estella from its Vietnamese partner Tien Phuoc.

The transaction is slated to be complete end of this year, and Keppel Land will hold a total of 98 per cent interest in phases two and three of the development.

Phase one has been completed, with 719 units sold and handed over to homebuyers except for nine penthouses.

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