Real Estate and Construction

Vietnam's real estate sector has experienced remarkable growth and transformation in recent decades. This dynamic market has been driven by factors such as rapid urbanisation, a growing middle class, and increased foreign investment. Major cities like Ho Chi Minh City and Hanoi have witnessed a construction boom, with modern residential and commercial developments reshaping skylines. Additionally, the government has introduced policies to attract foreign investors and promote sustainable development, making Vietnam an attractive destination for real estate investment. However, like many emerging markets, the sector also faces challenges, such as the growing need for better regulatory frameworks. However, from a general perspective, Vietnam's real estate sector continues to represent opportunities as it continues to evolve in response to changing economic and demographic dynamics.

A sampling of our highlight matters in this area includes:

• Acting for one of Japan’s leading property companies in relation to its acquisition of one of Saigon’s premier Grade A office buildings.
• Acting for one of the largest real estate funds in Vietnam on a complex deal involving the establishment of a multi-billion dollar joint venture to develop a 1,500-hectare integrated hotel and casino resort project in Vietnam.
• Acting for a leading property development company in Vietnam on its entry into the retail leasing market by way of developing numerous shopping centres.
• Acting for a major Singaporean investment firm in respect of its entry into a significant property development joint venture with a State-owned enterprise in Vietnam, comprising a combined residential, commercial, and retail multi-purpose complex.
• Acting for the property arm of a major South East Asian sovereign wealth fund and a large Japanese property development fund on their joint investment in numerous major commercial and residential property development projects in Vietnam.
• Acting for one of the largest real estate funds in Vietnam on a complex deal involving the establishment of a multi-billion dollar joint venture to develop a 1,500-hectare integrated hotel and casino resort project in Vietnam. Frasers was required to assist its client with documentation including the shareholders' agreement, put option agreement, gaming licence agreement, casino management agreement, international marketing agreement, licence agreement and consultancy and advisory agreement. Numerous multinational parties across different jurisdictions were involved.
• Acting for a high-profile client to set out various options/structures for an offshore lender to extend funding to a Vietnamese real estate developer which is partially owned by special purpose vehicles in another jurisdiction. Frasers identified a number of options for review by the client, together with the advantages and disadvantages of each structure.