Singapore’s APAC Realty buys new 22% stake in ERA Vietnam
APAC Realty has increased its holding in ERA Vietnam to 60% by acquiring another 22% of the Vietnamese real estate agency for almost $3.7 million.
The Singaporean realty services provider has bought an additional 984,697 shares of the Vietnamese firm in its latest investment, APAC Realty announced Monday.
“The growth capital extended during our initial investment was the catalyst which sparked ERA Vietnam’s tremendous growth over the past two years both in terms of revenue and agent headcount,” said Marcus Chu, APAC Realty CEO.
“We are confident that our second investment will support ERA Vietnam’s next phase of growth and allow us to realize greater value for APAC Realty shareholders over the long term,” he said.
In February 2020, the Singaporean firm acquired a 38% stake in ERA Vietnam. The latter is among the top 10 real estate agencies in Vietnam with almost 3,900 salespersons as of the end of 2022.
In the first nine months of 2022, the agency posted a revenue of VND117.3 billion ($5 million), much higher than its 2020 revenue of VND74.3 billion ($3.17 million).
Ho Chi Minh City-headquartered ERA Vietnam secured 34 new home projects in 2021, positioning it among the top 5 brokerage agencies in southern Vietnam. It obtained marketing appointments for 30 new home projects in 2022, APAC Realty said.
For its 2023 pipeline, ERA Vietnam has achieved marketing mandates for 23 new home projects with a total of 6,460 units. The list includes The 9 Stellars by domestic developer Son Kim Land, Zeit River Thu Thiem by South Korea’s GS E&C, Cadia by Vietnamese developer Phat Dat Real Estate, ID Junction by Vietnamese firm Tay Ho, and Grand Marina Saigon by Masterise, another domestic developer.
The named projects are in the Greater Ho Chi Minh City region and the central province of Binh Dinh.
“The outlook for real estate agencies remains bright. While there is an abundant supply of unsold units in Ho Chi Minh City, demand for well-located quality new homes by reputable local and international developers continues to be strong with home buyers and investors,” said ERA Vietnam CEO Pham Thanh Tuan.
Absorption of new homes projects across the city remained healthy at 52% in the first nine months last year, and rental yields in popular areas like districts 1, 2, 7, and Binh Thanh ranged from 4.0% to 7.0% in the third quarter of last year, he said.
- Read More
China favors investment in northern Vietnam province
Investors from China, which covers mainland China, Hong Kong, Taiwan and Macau, are increasingly turning to Vietnam’s northern province of Bac Ninh as an investment destination as the supply chain shift gathers pace.
Industries - Sun, March 24, 2024 | 2:48 pm GMT+7
67% of Vietnamese travellers seek sleep-focused tourism: Booking.com
Up to 67% of Vietnamese travellers surveyed seek vacations focused solely on uninterrupted sleep in 2024, while the figures for mainland China and Japan are 83% and 51% respectively, according to Booking.com.
Travel - Sun, March 24, 2024 | 10:45 am GMT+7
Ha Tinh province hands over 88% of land for $63 mln VSIP industrial park project
Vietnam's central province of Ha Tinh has handed over 88% of land earmarked for the Bac Thach Ha Industrial Park project to its developer, Vietnam-Singapore Industrial Park J.V. Co. Ltd. (VSIP).
Industrial real estate - Sun, March 24, 2024 | 8:00 am GMT+7
Hanoi apartment prices skyrocket
The primary asking price of apartments in Hanoi reached nearly VND60 million ($2,422) per square meter at the end of 2023, and they have continued to rise by 10-15% this year.
Real Estate - Sun, March 24, 2024 | 7:00 am GMT+7
Mekong Delta province Vinh Long calls for investments worth $2.26 bln
Vietnam's southern province of Vinh Long has called for project investments worth VND56 trillion ($2.26 billion) in several areas as it targets becoming a hi-tech agricultural hub by 2030.
Industries - Sat, March 23, 2024 | 8:28 pm GMT+7
Vietnam agri major Hoang Anh Gia Lai changes logo colors
Hoang Anh Gia Lai Group, which has decided to focus on cultivating bananas and durians and growing banana-fed pigs, will adopt a logo with new colors starting April 1.
Companies - Sat, March 23, 2024 | 8:22 pm GMT+7
Vietnam banks enter new phase of deposit rate cuts
Vietnamese commercial banks, led by state-controlled majors, have begun a new round of lowering deposit interest rates amidst tepid credit growth.
Banking - Sat, March 23, 2024 | 3:42 pm GMT+7
More banking activities can boost India-Vietnam ties: envoy
Increased banking activities would enhance economic, investment and trade ties between Vietnam and India, Indian ambassador Sandeep Arya said Friday at the Business Meet on India-Vietnam Business and Banking Services.
Banking - Sat, March 23, 2024 | 2:57 pm GMT+7
Malaysia declines to host 2026 Commonwealth Games
Malaysia has rejected an offer to host the 2026 Commonwealth Games Federation (CGF), under a decision made by the cabinet on Friday.
Southeast Asia - Sat, March 23, 2024 | 2:00 pm GMT+7
Thailand works to conserve coral reefs
Thai marine biologists are making efforts to save the country’s reefs from degradation driven by warming oceans and human activity like tourism.
Southeast Asia - Sat, March 23, 2024 | 1:55 pm GMT+7
Thailand aims to become EV production hub
Thai Prime Minister Srettha Thavisin on Friday reiterated his government's policy to promote the domestic manufacturing of electric vehicles (EVs) and parts in order to drive national economy.
Southeast Asia - Sat, March 23, 2024 | 1:50 pm GMT+7
Japan's Suntory earns $950 mln from 2023 beverage business in Vietnam
Japan-based brewing and distilling firm Suntory, a partner in Vietnam-based Suntory PepsiCo Vietnam Beverage, earned an organic revenue of JPY143.4 billion ($947 million) from beverage business in the Southeast Asian country in 2023.
Companies - Sat, March 23, 2024 | 11:43 am GMT+7
Vietnam Airlines considers adding Embraer aircraft to fleet
National flag carrier Vietnam Airlines and its subsidiary Pacific Airlines are drafting a plan to overcome challenges related to the Covid-19 pandemic by checking the suitability of Embraer aircraft for their fleets.
Companies - Sat, March 23, 2024 | 11:27 am GMT+7
Australia’s Northern Territory - a land of great potential
Australia’s Northern Territory is a land rich in resources, with many favorable conditions for the development of agriculture and tourism. It possesses huge untapped potential, and has high demand for labor and construction materials for infrastructure development.
Industries - Sat, March 23, 2024 | 7:45 am GMT+7
SK Ecoplant, BCG Energy to jointly develop 700 MW of renewable energy in Vietnam
SK ecoplant, part of South Korean chaebol SK Group, and BCG Energy, under Vietnamese conglomerate Bamboo Capital Group, will cooperate to produce 700 MW of renewable energy in Vietnam.
Energy - Fri, March 22, 2024 | 9:51 pm GMT+7
ASEAN, China, Hong Kong cooperate for first time in textile industry
The China National Textile and Apparel Council, the ASEAN Federation of Textile Industries (AFTEX), the Textile Council of Hong Kong, and the Hong Kong General Chamber of Textiles (HKGCOT) signed their first memorandum of understanding on cooperation at a ceremony in Hong Kong on Thursday.
Southeast Asia - Fri, March 22, 2024 | 5:04 pm GMT+7