VOF invests in real estate brokerage CenLand

VinaCapital Vietnam Opportunity Fund Limited (“the Company” or “VOF”)
LEI No.: 2138007UD8FBBVAX9469
 

VOF invests in real estate brokerage CenLand
 

Ho Chi Minh City, April 3, 2018 – VinaCapital Vietnam Opportunity Fund (LSE: VOF), the flagship fund of VinaCapital, today announced that it has made a private equity investment in CenLand, one of Vietnam’s leading real estate brokerages and the leader in the northern part of the country. VOF has invested USD10 million to obtain a significant minority stake.

Andy Ho, Managing Director of VOF, said, “Vietnam’s real estate market continues to grow, and yet the brokerage business remains relatively undeveloped. CenLand is already the top broker in the north, with the majority of its business in primary sales. Its strong relationships with some of Vietnam’s largest developers gives it a significant competitive advantage. We look forward to the company broadening its presence in the secondary market, where opportunities are expected to grow, and to more fully develop and utilise digital sales channels.”

Mr Ho noted that the terms of investment include downside protections and performance commitments typical of VOF private equity deals, as well as a commitment to list by the third quarter of 2018.

About CenLand

Founded in 2002, CenLand is one of the top five real estate brokerage companies in Vietnam, with a sales network of more than 1,200 sales people, nearly two dozen offices and 400 partners countrywide. In 2017, the company sold more than 11,500 units, thanks in part to its relationships with key Vietnamese developers such as Khang Dien House, Sovico, and Trung Thuy Group, to name a few. Its revenue and profit after tax in 2017 was USD48 million and USD11 million, respectively. In 2018, CenLand expects revenue to rise to USD61 million, a 24 percent rise over 2017, with 20-25 percent earnings growth, on the back of forecasted sales of more than 16,000 units in 71 projects throughout the country.
 

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About VOF

Launched in 2003, VinaCapital Vietnam Opportunity Fund Limited is a Guernsey-domiciled, closed-ended investment company. VOF’s investment objective is to achieve medium to long-term returns through investment either in Vietnam or in companies with a substantial majority of their assets, operations, revenues or income in, or derived from, Vietnam.

VOF is classified as a registered closed-ended Collective Investment Scheme under the Protection of Investors (Bailiwick of Guernsey) Law 1987 and is subject to The Companies (Guernsey) Law, 2008.

VOF is managed by VinaCapital Fund Management JSC, an entity managed and regulated in Vietnam by the State Securities Commission of Vietnam, a member of the International Organization of Securities Commissions.

More information about VOF may be found at vof.vinacapital.com.

About VinaCapital

Founded in 2003, VinaCapital is a leading investment management and real estate development firm headquartered in Vietnam, with a diversified portfolio of USD1.8 billion in assets under management. The firm has two closed-ended funds that trade on the London Stock Exchange: the VinaCapital Vietnam Opportunity Fund Limited, which trades on the Main Market, and VinaLand Limited which trades on the AIM. VinaCapital also manages the Forum One - VCG Partners Vietnam Fund, one of Vietnam's largest open-ended UCITS-compliant funds, the Vietnam Equity Special Access Fund, numerous segregated accounts, and two domestic funds. VinaCapital has joint ventures with Draper Fisher Jurvetson in venture capital, and Warburg Pincus in hospitality and lodging. VinaCapital's expertise spans a full range of asset classes including capital markets, private equity, real estate, venture capital, and fixed income.

For more information about VinaCapital, please visit www.vinacapital.com .
 

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