Singapore’s CapitaLand focuses on Vietnam as supply chains leave China
SINGAPORE — Singapore-listed property manager CapitaLand Investment plans to deploy up to $110 million in Vietnam to build or acquire industrial factories, expecting demand from manufacturers following supply chains out of China.
The company, backed by state investor Temasek Holdings, expects to add 100 million to 150 million Singapore dollars ($73 million to $110 million) worth of Vietnamese assets to its portfolio over the next two years, according to Patricia Goh, chief executive officer for Southeast Asia investment.
In addition to Vietnam, the company plans comparable investments in Malaysia and Thailand, with ambitions to facilitate a rapid industrialization of the Association of Southeast Asian Nations.
