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Published • Ho Chi Minh City, Viet Nam • Updated

Keppel divests entire stake in Vietnam’s Palm City for 2.6 trillion dong

Summary by Business Times
Global asset manager Keppel, through its real estate division, has divested its entire 42 per cent stake in South Rach Chiec – the developer of the Palm City development in Ho Chi Minh City – to Vietnamese real estate company Gateway Thu Thiem, unlocking total cash proceeds of 2.6 trillion dong (S$136.6 million).
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edgeprop.sgedgeprop.sg

Keppel divests 42% stake in Palm City in Vietnam for $92.1 mil

Keppel, through its real estate division, has divested its 42% stake in South Rach Chiec City (SRC) to Vietnamese real estate company Gateway Thu Thiem Joint Stock Company (GWTT). According to an April 1 release, the transaction has resulted in total cash proceeds of VND2.612 billion ($141.4 million). South Rach Chiec City is the developer behind Palm City, a 30-hectare integrated township situated in District 2 of Ho Chi Minh City. The township…

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Business TimesBusiness Times

Keppel divests entire stake in Vietnam’s Palm City for 2.6 trillion dong

Global asset manager Keppel, through its real estate division, has divested its entire 42 per cent stake in South Rach Chiec – the developer of the Palm City development in Ho Chi Minh City – to Vietnamese real estate company Gateway Thu Thiem, unlocking total cash proceeds of 2.6 trillion dong (S$136.6 million).

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Business Times broke the news in on Tuesday, April 1, 2025.
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