Keppel-backed Keppel Land to acquire a 49% stake in three land plots in Hanoi City from Phu Long Real Estate for $119m.

Keppel-backed Keppel Land, a real estate asset management company, agreed to acquire a 49% stake in three land plots in Hanoi City from Phu Long Real Estate, a real estate developer, for $119m. “We are excited to deepen our presence in Vietnam by re-entering the fast-growing capital city of Hanoi, together with our strategic partner, Phu Long, an established local developer. With Keppel Land’s strong track record and execution excellence in Vietnam, we aim to continue delivering innovative and multi-faceted urban space solutions. We believe that there is strong demand for thoughtfully designed and high-quality homes amongst discerning homebuyers in Hanoi," Joseph Low, Keppel Land President.