By Singapore Newsroom
SINGAPORE (Dec 19) -- SingHaiyi Group, a Singapore-based property developer, said Tuesday it has entered into an agreement for the bulk sale of its entire Vietnam Town Phase II units in the U.S. for $95.3 million (S$128.3 million).
Vietnam Town is a real estate venture by SingHaiyi in California comprising nine blocks of commercial condominium units and parking space with access to transport and retail facilities, the company said in an exchange filing.
"The success of Vietnam Town Phase I has paved the way for an even warmer reception to Phase II," SingHaiyi's Group Managing Director Celine Tang said. "This bulk sale is a testament to the immense potential of Vietnam Town as one of the preeminent commercial projects in San Jose, California."
The delivery of the first block is expected to be in the second quarter of 2018, Tang added.
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