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Wednesday, October 15, 2008

Mapletree to build Vietnam business park

SINGAPORE: Mapletree, the real estate arm of Singapore sovereign wealth fund Temasek Holdings said yesterday it has signed an agreement to develop a US$400 million business park in Vietnam.

The 75-hectare business park, in Vietnam’s Binh Duong province, will be built in phases starting from 2009, Mapletree said in a statement.

The deal brings its total investments in the Southeast Asian country to US$700 million, it added.

Mapletree said a 68-hectare logistics park it is also building in Binh Duong, near Ho Chi Minh City, has already signed up six customers ahead of its completion in November 2008.

By Reuters

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