3rd Apr 2018 17:15
LONDON (Alliance News) - VinaCapital Vietnam Opportunity Fund Ltd on Tuesday said that it invested USD10.0 million to purchase a minority stake in Vietnamese real estate brokerage CenLand.
VinaCapital Managing Director Andy Ho said: "Vietnam's real estate market continues to grow, and yet the brokerage business remains relatively undeveloped. CenLand is already the top broker in the north, with the majority of its business in primary sales. Its strong relationships with some of Vietnam's largest developers gives it a significant competitive advantage. We look forward to the company broadening its presence in the secondary market, where opportunities are expected to grow, and to more fully develop and utilise digital sales channels."
The stock closed 0.6% up at 351.00 pence per share on Tuesday.
Related Shares:
VinaCapital Vietnam Opportunity Fund
