Nam Long and Keppel Land join forces

If the bonds are converted into ordinary Nam Long shares, Keppel Land will own up to approximately 15 per cent of the company. This is an opportunity to collaborate and explore opportunities in the affordable housing segment, making use of Nam Long’s prestigious brand name and Keppel Land’s trustworthiness.

According to Keppel Land CEO Ang Wee Gee the convertible bonds followed his initial investment in NLG last year and demonstrates Keppel Land’s strong partnership with NLG as well as its commitment to continue to participate in the company's growth.

“It also underscores our confidence in Vietnam’s long-term investment potential, which is one of Keppel Land's key growth markets," Gee added.

Nguyen Xuan Quang, chairman of Nam Long Investment Corporation, said that before cooperating with Keppel Land, Nam Long worked with numerous foreign financial institutes and developers, such as Goldman Sachs, IFC, ASPL, and Mekong Capital.

“We always look forward to collaborating with leading partners in the property sector in order to improve our capacity and efficiency, and in turn, bringing value to our customers and benefits to our shareholders. Keppel Land’s deep understanding of the Vietnamese market in general and regional markets strengthens our confidence in our strategy and we will strive to do good on our commitments to shareholders, partners, and the community,” Quang said.

Earlier in July 2015, Keppel Land, subscribed for 7.1 million new ordinary shares issued by Nam Long, representing approximately 5 per cent of the company’s total share volume.

Nam Long has approximately 25 years of experience on the Vietnamese real estate market, with three major product lines, including Ehome, Flora, and Valora. As of today, Nam Long’s total assets are worth over VND5.022 trillion, including up to 500 hectares of land in favourable locations and government planning correspondence that guarantees sustainable development for 10 years.

In Vietnam, Keppel Land is one of the largest pioneering foreign real estate investors with a diverse portfolio of properties in Hanoi, Ho Chi Minh City, Dong Nai, and Vung Tau, including Grade A offices, residential properties, integrated townships, and award-winning serviced apartments. Offering over 20 licensed projects across Vietnam and a pipeline of more than 25,000 homes, Keppel Land is establishing itself as the choice developer, distinguished by quality and innovative lifestyle concepts.