Menas Vietnam, Keppel ink strategic partnership in utility ecosystem development for property projects
Menas Vietnam Co., Ltd, based in Ho Chi Minh City, has announced its strategic partnership with Singapore’s Keppel Ltd., a global leader in asset management and infrastructure operation.
Menas CEO Nguyen Duc Quynh (right) and Lee Leong Seng, head of residential development, real estate division (Vietnam) at Keppel, sign a strategic partnership agreement on April 2, 2025. Photo courtesy of Dau tu (Investment) newspaper.
Through this collaboration, Menas will develop and provide a comprehensive ecosystem of amenities, including retail, premium supermarkets, food & beverage (F&B), and edu-tainment, within Keppel's real estate projects in Vietnam, commencing with the Celesta City project in Saigon South, a mixed residential and commercial urban area 4 km south of HCMC’s center.
The project is planned on a 6.2-hectare site, with five zones; three high-rise - Celesta Rise, Celesta Heights and Celesta Gold, and two low-rise - Celesta Avenue and Celesta Prime.
Menas CEO Nguyen Duc Quynh said the signing marks a new chapter in developing modern, dynamic, and sustainable residential communities in Vietnam.
With a diverse ecosystem spanning property management, Menas Mall retail complexes, the premium Mena Gourmet Market, a chain of restaurants and food villages, and the MenaWorld edutainment center for children, Menas is ready to accompany Keppel in crafting world-class lifestyle experiences, he said.
The collaboration also aligns with Menas’s strategy to expand its nationwide network of supermarkets and services, he added.
Lee Leong Seng, head of residential development, real estate division (Vietnam) at Keppel, said this partnership represents a key step forward as his firm joins forces with leading industry brands.
“By combining our respective strengths, we are able to co-create dynamic retail environments that meet the evolving expectations of modern communities,” he said.
Founded in 2020, Menas operates across a wide spectrum of sectors, including the development and management of shopping malls, office leasing, retail & B2B property consultancy, VAT refund and duty-free store operations, gourmet market chains, technology and innovation via InnoMenas, the Yum Food Village culinary hub, F&B services, international convention center management, and event and exhibition organization.
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