Frasers Centrepoint to jointly develop $115 mil Ho Chi Minh property

SINGAPORE (June 7): Property group Frasers Centrepoint Limited (FCL) is jointly developing a residential-cum-commercial project on a one-hectare residential site in Ho Chi Minh City at the cost of US$85 million ($115 million) with G Homes House Development Joint Stock Company.

G Homes is a joint venture between FCL and Vietnam-listed boutique developer An Duong Thao Dien Real Estate Trading Investment Joint Stock Company (ADTD).

FCL will acquire a 70% stake, or 35 million shares, in G Homes for $21.3 million. ADTD and other shareholders hold the remaining 30% stake in the JV.

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