Sovereign MF sets up shop in Vietnam
Property fund manager Sovereign MF has entered into joint venture agreements with a number of local companies to develop various projects in Ho Chi Minh City, Vietnam.
This follows the establishment of a representative office in Vietnam last month to support a “concerted effort” to focus on development opportunities within Vietnam’s property market.
The new joint agreements are for development projects located within District 2, District 7, District 9 and Long An areas in and surrounding HCMC.
These projects “will cover the spectrum of residential, retail, office and educational property”, according to managing director Michael Grochowski.
He said Sovereign MF is offering the opportunity for wholesale and institutional investors through equity participation in the development of these projects and is “hopeful of an announcement soon detailing a large equity investment from an overseas listed entity”.
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