Keppel Land, through its wholly-owned subsidiary KLL Strategic Holdings (KLLSH), today signed a joint-venture agreement (JVA) with Vietnamese partner Tien Phuoc Co. to develop a 11-ha waterfront residential site for 175 villas fronting the Saigon River in Ho Chi Minh City.
Upon the issuance of investment certificate and relevant government approvals, KLLSH will take up a 60% stake amounting to US$27 million ($37.8 million) in the JV company while Tien Phuoc will subscribe to the remaining interest.
