SINGAPORE (Jan 2): Chip Eng Seng’s subsidiary in Vietnam, Viet Investment Link Joint Stock (VietLink) is acquiring a 60% stake in a Vietnam development known as Soai Kinh Lam Apartment – Commerce Center, in District 5 of Ho Chi Minh City, for US$19.7 million ($26.3 million).

The development will have two residential tower blocks of 17 and 30 levels, a five-storey commercial centre, plus two basement levels will be built on the site. The site has a land area of 4,829 sqm, with a total gross floor area of 50,000 sqm.

Presently, construction of the foundation and the basement level in respect of the project have been completed.

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