Only in the first 2 months of the year, the real estate M&A market continued to witness "blockbuster" deals, opening a "busy" year.
Series of transfers
Recently, Novaland Group and Resources Development Joint Stock Company held a ceremony to launch the Grand Sentosa project (Nha Be district, Ho Chi Minh City) after more than 10 years of unfinished business.
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In the hands of Novaland, Kenton Residences will "makeover" with the new name Grand Sentosa
This is a project of a commercial and service complex and a high-class residential area, with a total area of more than 8.3 hectares. According to the announcement released, Novaland Group will become the developer of Grand Sentosa, committing to put the project into operation according to the expected schedule in 2024.
It is known that the forerunner of the project was originally named Kenton Residences located in Phuoc Kien commune, Nha Be district, invested by Tai Nguyen Company, started in 2009. In early 2010, the project opened for sale 100 apartments. phase one, the price is 1,566 – 2,250 USD/m2. By mid-2010, the real estate market fell into a frozen state, causing the project to be halted.
In mid-2017, the project was renamed Kenton Node, after being revived by BIDV and MSB with more than 1,000 billion VND, but the project was stopped a year later.
Not only that, this project is also used as collateral for a debt of VND 4,000 billion of Resources Development Joint Stock Company and has been auctioned many times by BIDV to recover the debt.
Another notable deal is that the Saigon Binh An project was officially renamed The Global City, marking the "new owner" of Masterise Homes in January 2022.
As noted by the Business Forum , to acquire this super project, in 2021, Masterise Homes has mobilized through bonds of VND 22,075 billion in both 2021 and early 2022.
On a smaller scale, recently Vina Dai Phuoc Company, the investor of SwanBay Dai Phuoc project, also had a change in key shareholders when SNC Investments 27 (92% stake) and SNC Investments 28 did not name in the list of shareholders of the Company.
Although the name of the "replacement" business has not been announced, some sources say that this project is likely to belong to a large Vietnamese real estate enterprise, owned by a female billionaire. .
In the North, the market also recorded a deal worth up to 550 million USD when Viva Land Investment and Development Joint Stock Company, through its affiliates, officially owned the Capital Place building belonging to the company. owned by CapitaLand Vietnam at the end of January.
Or Keppel Land Group has just signed a binding agreement with Phu Long Real Estate Joint Stock Company to buy 49% of shares in 3 land plots in Bac An Khanh Urban Area - Mailand Hanoi City (formerly known as Splendora) with total worth 2,715 billion VND (about 120 million USD).
The three land plots have a total area of 14.2 ha, including 2 areas planned for low-rise housing development and 1 area for high-rise apartment buildings. The transaction is expected to be carried out in the third quarter of 2022.
Continuing the trend of M&A in coastal land bank
As a market research unit, Ms. Duong Thuy Dung, Senior Director of CBRE Vietnam, said that in the past year 2021, most of the M&A transactions took place in suburban real estate projects and other projects. provinces around major cities such as Hanoi and Ho Chi Minh City.
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The super project Saigon Binh An was officially announced in the hands of Masterise Home.
According to Ms. Dung, this trend is forecasted to continue in 2022 with the driving force including many positive signals coming from investment and development plans for transport infrastructure to increase connectivity. connecting major cities to surrounding provinces.
The expert also revealed that, in the new context, foreign investors will also not only look for land funds with prime locations, but also expand the search for projects to surrounding provinces in order to increase their income. increase project land fund for medium and long term development.
"The year 2022 will see more M&A deals than in the two years we were affected by the pandemic, but it will not be a big boom in the number of deals despite some policies to support investors. will take effect in 2022, but it will take time for these policies to be implemented and take effect," Dung said.
Meanwhile, according to Mr. David Jackson - CEO of Colliers Vietnam, real estate companies with strong financial potential are tending to hunt for projects through M&A deals, because of the land fund for deployment. their own projects are very limited, so they will try to buy unfinished projects and quickly complete them to bring to the market.
Sharing the same opinion, an assessment from research unit JLL Vietnam also believes that the race to acquire land funds of real estate developers is forecast to continue to be exciting and this will change the face of the market. housing in the next 5 years.
"Investors have quickly grasped the trend and moved to new potential destinations. Many real estate M&A deals will be conducted in 2022 and the focus will be on coastal and coastal provinces. the central region, or even the Central Highlands," said JLL expert.
By Diendandoanhnghiep.vn