Deepening its presence in Vietnam, Singaporean developer the Keppel Group held a breaking ground ceremony on November 8 for Saigon Sports City, a 64-ha site in Ho Chi Minh City’s prime District 2 that will be developed into a smart, integrated township.
The ceremony was attended by Mr. Nguyen Thanh Phong, Deputy Party Secretary of Ho Chi Minh City and Chairman of the Ho Chi Minh City People’s Committee, H.E. Catherine Wong, Ambassador of Singapore in Vietnam, Dr. Lee Boon Yang, Chairman of the Keppel Corporation, Mr. Loh Chin Hua, CEO of the Keppel Corporation, senior management of Keppel Land and Keppel Urban Solutions, and over 200 guests.
“Keppel has been participating in and contributing to Vietnam’s growth for close to three decades, especially in Ho Chi Minh City, where we have a quality portfolio of residential and commercial developments,” Mr. Loh Chin Hua told the ceremony.
"The breaking ground on Saigon Sports City today marks a new phase in Keppel’s engagement with Ho Chi Minh City, as we support the local government’s push for new, smart, and sustainable urban precincts."
Leveraging the Keppel Group’s capabilities to provide solutions for sustainable urbanization, Keppel Land and Keppel Urban Solutions, two subsidiaries of the group, are collaborating with other best-in-class partners on the master plan and development of the integrated township, to jointly develop this 64-hectare site into an iconic, vibrant, and integrated township with a focus on sustainability, community, connectivity and innovation.
"We are confident that the future-ready Saigon Sports City will become another iconic landmark in Ho Chi Minh City and the destination of choice for those who want to stay ahead," he said.
Mr. Tan Swee Yiow, CEO of Keppel Land, presented a contribution of $4.3 million on behalf of Keppel in support of infrastructure development in District 2. The contribution, which was received by Mr. Nguyen Phuoc Hung, Chairman of the District 2 People’s Committee, reflects Keppel’s commitment to contribute to the community wherever it operates.
Once completed, Saigon Sports City will feature about 4,300 premium homes as well as serve as Vietnam’s one-stop sports, entertainment, and lifestyle hub. The first phase of Saigon Sports City will comprise of residential and commercial spaces as well as sports facilities.
Biophilic design principles will be adopted in Saigon Sports City, including natural cross-ventilation throughout the development, ample space between buildings for natural light, a contiguous fitness circuit, lush landscaping with locally sourced flora and picturesque water features with natural filtration to create a green environment.
The project, which requires an estimated US$500-US$700 million in investment, is scheduled for completion in 2027. Its first phase will see the construction of residential and commercial spaces as well as sports facilities.
Keppel will also work with best-in-class local and international partners to offer innovative urban solutions, including smart security, smart mobility and environmental infrastructure solutions, among others.
According to Loh Chin Hua, Keppel has had the privilege of participating in and contributing to Vietnam’s development for close to 30 years. As a property arm of Keppel Corporation, Keppel Land is one of the largest foreign real estate developers in Vietnam that provides innovative real estate solutions with its portfolio of award-winning residential developments, investment-grade commercial properties and integrated townships, with a pipeline of some 46,000 homes in Singapore and overseas.
“Over the years, we have forged strong partnerships with the Ho Chi Minh City government and with local partners and contributed to the city’s rapidly changing cityscape with our hallmark quality homes and commercial developments.”
“These include Saigon Centre, Estella, Palm City and Riviera Point. We are currently also developing Empire City in the Thu Thiem New Urban Area, which will be another key landmark in Ho Chi Minh City,” he added.
Keppel is a provider of solutions for sustainable urbanisation. Across many key cities in Asia, Keppel has contributed to sustainable development with its suite of innovative and sustainable solutions, including vibrant urban developments, water treatment, and waste-to-energy plants, as well as smart and sustainable townships.
Earlier last year, Keppel Land, through its wholly-owned subsidiary Oil (Asia) Pte, acquired the remaining 10 per cent stake in Jencity, which holds Saigon Sports City, from Jenclub for a deal value of approximately $11.4 million.
After this acquisition, Keppel Land holds 100 per cent interest in Saigon Sports City, thus consolidating its full ownership of the township.
This project was licensed 10 years ago but it was still on paper until the first quarter of last year when Keppel Land started mobilizing a large number of workers and supporting machines to level land and constructing the road to the township.
