Israeli company eyes Viet Nam’s real estate market

23/01/2008 -- 8:51 PM

Ha Noi (VNA) – Singapore ’s Pacific Star Group and Israel ’s Alony Hetz have signed an agreement to set up a fund investing in Vietnamese real estate. The two companies expect to raise 200 million USD from institutional investors by July this year. Under the deal, Pacific Star and Alony Hetz will both manage the fund through a joint venture company that has yet to be established. “The overall outlook of the Vietnamese property market remains bright owing to the accelerated economic growth in the country,” said Nathan Hetz, founder and chief executive officer of Alony Hetz. Alony Hetz, one of Israel ’s largest real estate holdings, recently invested 40 million USD in a fund in India . The company hopes Pacific Star would be its excellent partner for its entry into Asia.-Enditem
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