Sapphire Exits from Sanctuary Ho Tram

Next Story

Interview: Two Venture Capitalists at the Forefront of Vietnamese Innovation

August 22, 2016

home02

Vietnamese property developer Sapphire will exit its 51 per cent stake in Sanctuary Ho Tram, the beach resort 105 km from Ho Chi Minh City. This move follows closely behind Sapphire’s divestment from Refico Real Estate Group in February.

David Clarkin, Sapphire’s Managing director, cites the divestiture as a move to “fully focus on creating value in core operations.” The board has decided it would be the best strategy in serving shareholder’s best interests.

“We have sustained growth through a solid performance from our controlled operations. Moving forward, we will continue to focus on strengthening the value of our core operations while seeking to drive profitable growth in Ho Chi Minh City’s real estate market,” he says.

In future projects, Sapphire will partner with Australia’s Sakkara Group, fund management firm Dragon Capital, and GIC Singapore. Noted endeavors include the search of new opportunities and the rebuilding of old apartment buildings.

 

 

Tags


More From the Author

  • Kim Son: Great Vietnamese Cuisine Outside of Saigon
  • VietJet Soars Past Vietnam Airlines in Market Value
  • Global Fashion Retailers Enter Vietnam In Style
  • Cacdemode: Cut-Out Swimwear for an Unforgettable Summer
  • 2017 Favorite Vietnamese Phrases, Facebook Denizens
  • 7 Reasons to Visit & Love Hoi An
  • Mercedes, BMW Prepare For Showdown In Vietnam
  • 8 Reasons To Visit and Love Nha Trang
  • How Kevin Cook Saw The World for $20 A Day
  • YOLO Pictures: The Story of Van Tich
  • Enter to Win! Tell Us Your Lunar New Year Stories Win Lunch at Park Hyatt Saigon!
  • 5 Radical Habits of the World’s Greatest People
  • Vietnam Turns to Youngsters for Soccer Domination
  • KKR, VinaCapital, and Mekong Capital’s Big Private Equity Exits in 2016
  • US embassy calls for Fulbright Vietnamese Student Program applications
  • 16 Resolutions For An Unforgettable 2017
  • Richard Marx Subdues Crazed Passenger on Vietnam Flight
  • Sunflower Mission Scholarships Build Bright Future
  • YOLO Pictures: You Or The City
  • 4 Reasons Custom-Fit Fashion Will Propser
  • Leave a Reply

    Subscribe Today

    We will send directly to your inbox the latest Vietnam investment commentaries, travel tips and "in the know" tidbits! 
    Join the Vietnamese IN CROWD!
    First Name
    Email address