Ho Chi Minh City Launches New Investment Fund VinaLand

 
Office buildings and apartment buildings for low and middle-income earners are among VinaLand's focuses.

The premier investment bank VinaCapital, which manages the Vietnam Opportunity Fund (VOF), recently announced on the final day of individual investors’ conference in Ho Chi Minh City the launch of a USD 50 million fund named VinaLand which will invest on real estate.

The two-day conference draws the participations of many representatives from 100 foreign mutual funds, portfolio companies, and investment banks.

VinaCapital plans to invest the entire $50 million of the new fund in real estate in 8 to 12 months and expects to raise more money later for later operation expanding, said a representative of the pioneer in Vietnam's financial services industry.

VinaLand focuses on five areas in real estate including the commercial (retail chains), industrial (industrial parks, leisure resorts and hotels), office buildings and apartment buildings for low and middle-income earners.

Like the $95-million VOF which began in September 2003, VinaLand will be listed on the London Stock Exchange.

VinaCapital is currently the leading investment bank in Vietnam capable of advising and representing the companies which decide to address their issues such as strategic partnerships with investors or selling equity stake to keep up with a rapidly changing market.

By Trong Khuong

Other news