At the Vietnam-Singapore Economic Connectivity Ministerial Conference (CMM) held on October 10, 2025, in Hanoi, Keppel was awarded an amended investment certificate by the Ho Chi Minh City People’s Committee for Phase 3 of Saigon Centre. This green project will offer premium office, retail, and hotel spaces.
Strategically located in the heart of Ho Chi Minh City’s most vibrant intersection, Saigon Centre sits on prime real estate surrounded by four major roads: Lê Lợi, Nam Kỳ Khởi Nghĩa, Huỳnh Thúc Kháng, and Pasteur.
Spanning approximately 2 hectares, the project received its initial investment license in 1993 and is divided into five development phases. Phase 1 (Saigon Centre I), completed in 1996, features a 25-story building with offices, apartments, and services. Phase 2, comprising Saigon Centre II and III, was finished in 2016 with a 43-story tower.
Phase 3 (Saigon Centre IV and V), covering 8,623 square meters, faced prolonged delays due to incomplete land handover by Vietnamese partners, hindering the construction of the planned office tower.
After years of stagnation, construction resumed in early 2024, marked by promotional banners around the site announcing the project’s relaunch.
 Construction barrier signage on Nam Kỳ Khởi Nghĩa Street, promoting the upcoming Phase 3 launch, captured in 2024. Photo: Thanh Tú
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In Q1 2025, Keppel generated approximately SGD 98 million (VND 1,989 billion) from selling a 22.6% stake in Phase 3. Previously, in 2024, Keppel sold a 16% stake for SGD 62.2 million (VND 1,263 billion). To date, Keppel has earned SGD 160.2 million (VND 3,252 billion) and retains over 45% ownership in the project.
According to Finance Minister Nguyễn Văn Thắng, as of August 31, 2025, Singapore is Vietnam’s second-largest foreign investor with 4,226 projects totaling USD 87.6 billion. Conversely, Vietnam has invested in 190 projects in Singapore, valued at USD 685 million.
The Minister emphasized that the conference aimed to review progress, propose new cooperation measures, and strengthen connectivity to address global economic challenges.
Priority sectors include investment, agricultural trade, sustainable development, infrastructure, energy, IT, education, innovation, and finance, aligning with the Comprehensive Strategic Partnership goals.
The conference featured discussions on investment, agricultural trade, construction, transportation, infrastructure, and energy, with contributions from representatives of various ministries, agencies, and localities from both nations.
Keppel Earns Over VND 3.2 Trillion from Prime HCMC Project Stake Sale
– 11:36 13/10/2025
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