An additional property investment fund for Ho Chi Minh City has been introduced by the Korean investment Trust Management (KITMC) and BB Dai Minh Joint Stock Company with the total capital of more than VND 250 billion. The fund was founded to support the implementation of property projects on an area of over 1,700m2 in Phu My Hung New City Area, Ho Chi Minh City. A series of apartment and office buildings will be filled in the area to fulfill the city’s planning and meet market demand for housing. KITMC, also known as Truefriend, is one of Korea’s leading property fund managers and is a subsidiary of Korea Investment Corporation. Owning a number of property worth US$ 19.5 billion in 2006, KITMC is currently managing seven funds of over US$ 1 billion and is investing in Vietnam’s most profitable sectors such as capital, real estates and gas. Source: NLD Translated by Hoang Anh
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