Israeli firms eye Vietnam RE

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 US$200 million 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 US$40 million in a fund in India. The company hopes Pacific Star will be an excellent partner for its entry into Asia.
by Asia Pulse