Keppel Land’s Vietnam office properties fully leased

Keppel Land’s Vietnam office properties fully leased 

 

 

Keppel Land, Singapore’s third-largest developer, said its properties in Vietnam are fully leased and sees little impact from accelerating inflation in the country.

 

It said in an emailed statement that its office leases are normally for the period of two years or more and are pegged in US dollars.

 

Vietnam cut its 2008 economic growth target today to 7 percent from 9 percent as the year-on-year inflation rate reached 25.2 percent last month, the higest since at least 1992.

 

Kim Eng Securities recently cut its target price for the developer on concern that the company’s projects in Vietnam may be affected by a slowdown in the Vietnamese economy and housing market.

 

Vietnam accounted for 5.5 percent of Keppel’s net income last year, the most among Singapore’s property developers.

 

 

Source: 938Live

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