New momentum for real estate M&A

The real estate market is witnessing a vibrant wave of dealmaking, as major domestic and foreign enterprises acquire land and operational projects to expand their portfolios in Vietnam.

- Bich Ngoc reports.

PHAN XUAN CAN Chairman, Sohovietnam

In early November, JLL Hotels & Hospitality Group announced that it had successfully advised on the sale of Hôtel Perle D'Orient Cat Ba, marking continued momentum in Vietnam's hotel market.

Hôtel Perle D'Orient Cat Ba, a 126-key resort offering panoramic ocean, mountain, and bay views, sits within the UNESCO-recognised Cat Ba Biosphere Reserve.

"The asset was sold by a domestic investor group to a consortium of well-respected international buyers. We congratulate all parties on this landmark transaction and look forward to seeing the new owners' vision bring this stunning property into its next exciting chapter," said a JLL representative.

In the residential segment in September, SonKim Land completed the acquisition of a 10-hectare land plot on the Mai Chi Tho axis, the site of the former Saigon Broadway project developed by Novaland in Ho Chi Minh City.

In early October, SonKim Land announced that it had successfully raised a $200 million loan, marking one of the most notable capital transactions in the market in recent times. This loan takes the form of a private credit facility, intended to support SonKim Land's long-term strategy of expanding its real estate portfolio.

Meanwhile, another major player from Malaysia, SkyWorld, has also attracted attention with a high-profile transaction. In September, it signed an agreement to acquire more than 9,400sq.m in Lai Thieu Ward of Ho Chi Minh City, valued at over $32 million.

Under the plan, the site will be developed into a premium residential complex featuring a 40-storey tower supplying more than 1,200 apartments, together with a full range of commercial and service amenities.