The consideration will be paid in two tranches in cash. The sum took into account the existing potential of the plot of land in Ho Chi Minh City’s district 7, the existing development potential of the site and the approved master plan of the site.
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The plot of land measures some 89,727 sqm.
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Riviera Point has completed the first two phases of the residential and commercial development known as Riviera Point. It is in the process of obtaining relevant approvals from the competent authorities for the remaining phases of the project.
Shares in Keppel Corp closed 7 cents lower or 1.4% down at $5 on Feb 4.
