March 19, 2011

VictoryCapital Opened in Phnom Penh


Assets management company VinaCapital will make retail centres a focus of its property investment activities this year , says CEO Don Lam.

During a press briefing on Wednesday, he said demand in this segment was high compared to supply with more popular brands looking to tap the Viet Nam market or widen their presence.

The company planned to start three retail projects this year including one in HCM City, but specifics of location and investment scale were not disclosed.

Don also noted that his company would continue investment in the hotel segment as tourism was a potential thanks to low cost and Viet Nam's stability. Currently it has investments in seven hotels and resorts.

He has made several trips overseas seeking US$500 million for two funds. One will be for private equities and the other for the real estate sector.

"Investors showed strong interest in the Viet Nam market, but as they are interested in the long term they are holding off for positive economic signals," he said.

VinaCapital recently opened VictoryCapital in Cambodia's capital city of Phnom Penh to source and manage VinaCapital's investments in that country as well as help Vietnamese companies that wish to invest there.

Last year VinaCapital helped bring the World Economic Forum Asia Summit to HCM City and organised its Investor Conference that brought around 100 shareholders to Viet Nam.

It also attended almost 40 international events in 2010 to attract capital to the country.

Currently VinaCapital manages assets worth $1.7 billion, up from $10 million when it came into being in 2003.

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