Australian AMP plans US$250m property fund

Australia’s AMP Capital Investors, which is managing funds totaling US$17 billion, plans to join hands with fund manager Courtland Partners and Celadon International to establish a US$250 million fund to invest in Vietnam’s realty sector. The investors expressed keen interest in investment in HCM City at a meeting with HCM City vice chairwoman Nguyen Thi Hong last Friday.

Simon Vinson, managing director of AMP Capital Investors Singapore, said AMP together with its two partners were considering setting up a joint venture fund centering on property projects in HCM City and elsewhere in Vietnam.

Paul Stoll, CEO of the international hotel management group Celadon International, said the company was managing high-class hotels and resorts in Vietnam such as Sun Spa Resort in Quang Binh Province, Celadon Palace in Hue City, and Imperial Hotel in Vung Tau City. It now wants to get involved directly in realty development projects in Vietnam such as office buildings, hotels, urban towns and hospitals.

Vice chairwoman Hong showed support for the plan, saying representatives of the fund could consider investing in new urban towns in the city, such as Thu Thiem, and Northwest Cu Chi, and high class hotels. The other sectors which they could also mull in their investment plans are healthcare and education, she said.

 

Category: Business