SINGAPORE (July 12): Frasers Property is developing a residential-cum-commercial project in Ho Chi Minh City, Vietnam.

Frasers Property Investments (Vietnam) 2, a subsidiary of Frasers Property, has entered into a sale and purchase agreement with Tran Thai Lands Company to acquire a 75% stake in Phu An Dien Real Estate Joint Stock Company (PAD) which will undertake the development at Linh Trung Ward, Thu Duc District.

The aggregate consideration for the proposed acquisition is VND799 billion ($47.33 million).

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