Japanese investors finance extra US$100 million to SonKim Land

16:16 | 04/01/2017 Investment

SonKim Land Corporation has announced its completion of calling for international investment capital in 2016.

Through the Lemon Grass Master Fund, existing Japanese investors continue to pour an additional US$100 million into SonKim Land. The first phase investment of US$46 million was injected on December 21 while the follow-on funding of US$54 million is scheduled to be injected in the first of 2017.

After the very first investment of US$37 million in 2013, Lemon Grass Master Fund’s second capital contribution has affirmed the strategic partnership between foreign investors and SonKim Land. This also reflects the trust by foreign investors in SonKim Land’s strategies, potentials and development plan.

Nguyen Hoang Tuan, chairman of SonKim Land, said “We are very pleased with strong commitment and belief from our Japanese investors. This shows that they are not only confident in SonKim Land’s business, but also in the steady growth of the Vietnam real estate market in the years to come. This investment will help SonKim Land to increase its portfolios and strengthen its leader position in the luxury high-end residential market.”

SonKim Land primarily focuses in the premium and luxury segment through developing projects in prime locations. The company has won two consecutive “Best Luxury Condo Development” awards at Vietnam Property Award in 2015 and 2016 with its Gateway Thao Dien and The Nassim projects respectively. SonKim Land’s strong attention to every little detail and its commitment to quality have differentiated it from other developers in the town and positioned itself as Vietnam’s leading luxury property developer.

In December 2016, SonKim Land has just launched the Serenity Sky Villa project located on Dien Bien Phu Street, District 3, Ho Chi Minh City which is a Sky Villa concept mid-rise development comprising only 45 units in 17 floors. The company’s two other projects, Gateway Thao Dien and The Nassim has sold over 90 per cent and well received by the market following its debut in the residential market in 2015.

Theo Vietnam Investment Review