Malaysian developer SkyWorld makes first land acquisition in Vietnam
Malaysia’s SkyWorld, developer of the well-known Genting SkyWorlds Theme Park, has acquired 5,300 square meters of land in Ho Chi Minh City, its first land acquisition in Vietnam.
In a Thursday announcement, SkyWorld said its wholly-owned subsidiary SkyWorld Vietnam has entered into a conditional shares sales and purchase agreement with Thuan Thanh Trading Production and Real Estate Training JSC and three individuals.
SkyWorld will spend VND350 billion ($14.5 million) on acquiring 100% of the Vietnamese firm’s shares.
Upon completion of the deal, SkyWorld will own several land lots, including a 2,060-square-meter plot and five parcels of between 64 and 1,026 square meters each, all in District 8, HCMC.

Executives of Thuan Thanh JSC and SkyWorld at the signing ceremony on September 7, 2023. Photo courtesy of SkyWorld.
Thuan Thanh Trading Production and Real Estate Training JSC is carrying out relevant legal procedures to implement a 24-storey apartment building project on these land lots. The project is set to house 1,200 people with a construction density of 40%.
SkyWorld said the acquisition was in line with its expansion plan, with particular focus on HCMC.
The apartment project is in a prime location and can fetch VND50-70 million ($2,100-$2,900) per square meter, taking the gross development value of the project to VND1.6 trillion ($66.4 million), it added.
The transaction value of real estate mergers & acquisitions in Vietnam reached $500 million in the first half of this year, up 41.2% versus the same period in pre-pandemic 2019, according to Jones Lang LaSalle.
In July, Gamuda Land, the property arm of Malaysia’s Gamuda Berhad, said it would spend VND7.2 trillion ($315.8 million) to acquire 100% equity in Vietnam’s Tam Luc Real Estate Corporation. With the transaction, Gamuda will acquire a 3.6-hectare project solely owned by the Vietnamese firm.
In June, Thailand’s real estate investment trust SHREIT sold three hotels representing 632 keys altogether in Ho Chi Minh City and Jakarta for a combined $106.1 million.
In May, Singapore’s conglomerate Keppel Corporation initiated the acquisition of a 49% stake in two adjacent residential projects in HCMC from Vietnamese property developer Khang Dien for VND3.18 trillion ($135.42 million).
In January, Hong Kong-based real estate giant ESR acquired a “strategic” equity stake in its Vietnam partner BW Industrial, as part of a funding round that could raise up to $450 million for the major industrial developer.
- Read More
Vietnam's leading publisher opens 4 bidding packages for printing 2025-2026 school year textbooks
The Vietnam Education Publishing House (VEPH) on February 6 launched a public bidding process for four packages to print 2025-2026 school year textbooks.
Companies - Thu, February 13, 2025 | 12:47 pm GMT+7
Vietnam budget carrier Vietjet to receive Boeing 737 Max aircraft from July
Vietnamese low-cost airline Vietjet is set to receive first Boeing 737 Max aircraft of its order for 200 units from July.
Companies - Thu, February 13, 2025 | 12:11 pm GMT+7
Vietnam PM urges Samsung to invest in thriving semiconductor sector
Samsung should maintain its position as the biggest foreign investor in Vietnam, and bolster its investment in supporting industries, semiconductors, innovation, and digitalization, said Prime Minister Pham Minh Chinh.
Industries - Thu, February 13, 2025 | 10:35 am GMT+7
Vietnam seeks to import LNG from Australia, US, Qatar, then Russia
Vietnam can import LNG from major exporters such as Australia, the United States, and Qatar, as those nations have plans to expand their exports, the according to the Ministry of Industry and Trade.
Energy - Thu, February 13, 2025 | 10:18 am GMT+7
Vietnam garment makers exercise caution over uncertainties despite enough orders
Most textile and garment businesses in Vietnam have enough orders to sustain production until Q2/2025, but they are still "holding their breath" to closely observe international market trends.
Economy - Thu, February 13, 2025 | 8:40 am GMT+7
Indonesia considers institutional issues for nuclear power development
For the development of nuclear power plants, Indonesia has yet to fulfill three things - national position, organizational readiness, and mapping of stakeholders, said Deputy Minister of National Development Planning Febrian Alphyanto Ruddyard.
Southeast Asia - Wed, February 12, 2025 | 10:03 pm GMT+7
Vietnam's consumer finance major F88 posts record profit in 2024
F88 Investment Joint Stock Company (F88), a leading consumer finance company in Vietnam, recorded after-tax profit of VND351 billion ($13.73 million) in 2024, an all-time high.
Finance - Wed, February 12, 2025 | 9:49 pm GMT+7
Vietnam needs 'hundreds of thousands' of AI engineers in next 3 years: Nvidia exec
Vietnam will need hundreds of thousands of artificial intelligence (AI) engineers within the next three years as it is facing a shortage of AI personnel at all levels and in various fields such as data science and AI operations, according to Vu Manh Cuong, director of Nvidia Vietnam.
Companies - Wed, February 12, 2025 | 5:01 pm GMT+7
Heineken overcomes heavy traffic fine rule, volume grows over 50% in Vietnam
The sales volume of Heineken “grew in the fifties” in Vietnam in 2024, the Dutch brewer said in its 2024 performance review.
Companies - Wed, February 12, 2025 | 3:27 pm GMT+7
Coffee export revenue in 2025 can surpass $6 bln: Mercantile Exchange of Vietnam exec
If coffee demand remains strong, it’s very likely that export prices will remain high, potentially pushing Vietnam’s coffee export revenue beyond the $6 billion mark in 2025, said Duong Duc Quang, deputy general director of the Mercantile Exchange of Vietnam, in a talk with The Investor.
Executive Talk - Wed, February 12, 2025 | 3:06 pm GMT+7
Vietnam rises as global production hub on improving fundamentals: HSBC
Vietnam’s status as a rising global production hub is not only due to geopolitical factors but also thanks to its improving fundamentals, write HSBC analysts in the bank's report "Vietnam at a glance - Let’s talk capital".
Consulting - Wed, February 12, 2025 | 1:03 pm GMT+7
Danish toymaker Lego opens $1.3 bln Vietnam factory
Lego officially “opened the door” to its $1.3 billion Vietnam factory on February 3, the first working day after the Lunar New Year holiday (Tet), Klaus Gørrissen, project director at Lego Group, said Tuesday.
Companies - Wed, February 12, 2025 | 12:05 pm GMT+7
Thailand SCG earns $1.45 bln in Vietnam in 2024, up 11%
Thailand’s Siam Cement Group (SCG) recorded sales of THB49,514 million ($1.45 billion) in Vietnam in 2024, up 11.1% year-on-year, the industrial giant said in its 2024 performance review.
Companies - Wed, February 12, 2025 | 11:18 am GMT+7
Vietnam galvanized steel makers Nam Kim, Hoa Sen, Ton Dong A to be most affected by 25% U.S tariffs
Vietnamese galvanized steel companies like Nam Kim Steel, Hoa Sen Group and Ton Dong A will be the most impacted by the U.S. imposition of 25% tariff due to their large proportion of exports to the American country.
Companies - Wed, February 12, 2025 | 9:13 am GMT+7
Big projects worth $5.88 bln to break ground in central Vietnam city
Many major projects are set to break ground in the central coastal city of Danang in the first half of the year, with total investment exceeding VND150 trillion ($5.88 billion).
Industries - Wed, February 12, 2025 | 8:24 am GMT+7
Sustainable fashion presents promising niche market for Vietnam garment manufacturers
Vietnam has set an ambitious target of earning $48 billion in textile and garment export revenue this year, and industry insiders hope that sustainable fashion will help the sector achieve its goal.
Southeast Asia - Tue, February 11, 2025 | 9:57 pm GMT+7