The world’s billionaires in Vietnamese real estate market

The world’s billionaires in Vietnamese real estate market

Many real estate billionaires around the world have, directly or indirectly, invested in Vietnam since 2006.

Capital from Israel

In early April, Alma Vietnam opened its HCM City office after two years of focusing its operation in Hanoi. Alma Vietnam manages and develops Alma Resort, a project of Igal Ahouvi, an Israeli billionaire.

The appearance of the tycoon, 59, from Tel Aviv, in Vietnam since 2013, has restarted the Bai Rong tourist investment project in the coastal city of Nha Trang, registered by Bai Dai Company Ltd. The project was stopped for four years.

The Israeli billionaire, known as the owner of valuable assets and the financial investor in the UK, Switzerland, Ireland, Vietnam and Israel, through Blenheim Group, bought the project and changed it into Alma Resort, capitalized at $300 million.

Alma Resort, the largest Israeli invested project in Vietnam, is a key project of Blenheim Group.

The $300 million project would be developed in two phases. The first one, with investment capital of $200 million, kicked off last year, and is expected to be completed by 2018.

Thai family arrives in Vietnam

2014 was an eventful year in the history of the Vietnamese real estate market with many successful merger and acquisition deals reported.

The owner of Central Group, a large retailer in Thailand, after arriving in Vietnam, has set up two Robins Department Stores in HCM City and Hanoi.

The famous Thai family topped the Forbes Asia’s 2014 list of the 50 richest billionaires in Thailand. Central Group stated that it would spend some $1.3 billion by 2017 to implement its strategy on increasing its presence in South East Asia, including Vietnam.

Central Group, belonging to a rich Thai family, is also the manager of large shopping centers such as Robinson, Zen (Thailand) and La Rinascente (Italia), and the partner of Watsons, Casino Group (which manages Big C) and Page One (the leading publisher in South East Asia).

The “early bird” from Malaysia

Tan Sri Dato Seri Vincent Tan Chee Yioun, or Vincent Tan, chair of Berjaya Corporation Berhad, one of the 10 richest Malaysians with assets valued at $1.6 billion, is one of the pioneer investors in Vietnam.

Berjaya Group came to Vietnam to learn about the investment market in 2006, and it received the license for developing a real estate project in Vietnam in 2007.

The global economic crisis has forced the investor to scale down its investments in Vietnam.

However, it remains a big foreign investor in the country with capital contributed to the 5-star Sheraton Hanoi hotel, InterContinental Hanoi Westlake, Long Beach Resort, Amber Court in Dong Nai province and Hanoi City Garden.

vietnamnet