Ho Chi Minh City, 3 April 2025 – Keppel Ltd. (Keppel), through its Real Estate Division, has signed Memorandums of Understanding (MOUs) with leading retail, interior design and education partners – Takashimaya Interior Limited, Menas Company Limited, Development of Victoria School System Co. Ltd, King Food Market Corporation and Red Circle Co., Ltd – to explore opportunities to offer high-quality amenities at Keppel’s residential developments in Vietnam, starting with CELESTA City as the pilot project. These partnerships would be scaled and extended to other Keppel residential developments in Vietnam.

The MOUs were signed by Mr Lee Leong Seng, Head of Property Development/Residential, Real Estate Division (Vietnam), Keppel; Mr Ichiro Okazaki, General Director, Takashimaya Interior Limited; Mr Nguyen Duc Quynh, CEO, Menas Company Limited; Mr Le Nguyen Trung Nguyen, CEO, Development of Victoria School System Co. Ltd; Mr Hoang Nguyen Cong, Regional Sales Manager, King Food Market Corporation; and Mr Cheung Yiu Kwong, General Director, Red Circle Co., Ltd.

Mr Lee Leong Seng, Head of Property Development/Residential, Real Estate Division (Vietnam), said, “These partnerships with well-established brands in their respective industries aim to create dynamic spaces that cater to the evolving needs of communities. Through these collaborations, we will bring a diverse range of offerings, including home and living solutions, supermarkets, convenience stores, schools and lifestyle amenities to Keppel’s residential developments in Vietnam. This ensures that residents and visitors have easy access not just to daily essentials and services but also vibrant retail and lifestyle offerings.”

Mr Nguyen Duc Quynh, CEO, Menas Company Limited, said, “With a diverse ecosystem that includes Mena Gourmet Market, restaurants, a culinary village, and the MenaWorld edutainment playground for children, Menas Group is ready to collaborate with Keppel to create premium living amenities. This partnership marks a significant step in the journey to build modern, dynamic and cohesive communities within Keppel's projects."

CELESTA City, a 6.2-hectare project jointly developed by Keppel and Phu Long, is strategically located along the Nguyen Huu Tho arterial thoroughfare, just a 20-minute drive from Ho Chi Minh City centre. As Saigon South transforms into a dynamic urban hub, CELESTA City is poised to become a symbol of modern living and a destination of choice for families and investors alike.

Mr Lee Leong Seng, Head of Property Development/Residential, Real Estate (Vietnam), Keppel Ltd., delivering a speech at the event.

Front row from left: Mr Lee Leong Seng, Head of Property Development/Residential, Real Estate (Vietnam), Keppel Ltd., and Mr Ichiro Okazaki, General Director, Takashimaya Interior Limited as the signatories.

Back row from left: Mr Alvin Lee, General Director of CELESTA City; Ms Dam Suyen Nhu, Head of Sales, Marcom & Customer Experience, Real Estate (Vietnam), Keppel Ltd.; Ms Yuki Tanaka and Mr Hiroshi Waguri, Council Members of Takashimaya Interior Limited, as the witnesses.

Front row from left: Mr Lee Leong Seng, Head of Property Development/Residential, Real Estate (Vietnam), Keppel Ltd., and Mr Nguyen Duc Quynh, CEO, Menas Company Limited as the signatories.

Back row from left: Ms Dam Suyen Nhu, Head of Sales, Marcom & Customer Experience, Real Estate (Vietnam), Keppel Ltd.; Mr Alvin Lee, General Director of CELESTA City; Mr Nguyen Ngoc Quy, COO and Mr Dang Tran Dinh Thang, Director of Sales & Marketing, Menas Company Limited, as the witnesses.

Front row from left: Mr Lee Leong Seng, Head of Property Development/Residential, Real Estate (Vietnam), Keppel Ltd., and Ms Le Nguyen Trung Nguyen, CEO, Development of Victoria School System Co. Ltd, as the signatories.

Back row from left: Ms Dam Suyen Nhu, Head of Sales, Marcom & Customer Experience, Real Estate (Vietnam), Keppel Ltd.; Mr Alvin Lee, General Director of CELESTA City; Mr Christopher Bradley, CAO and Head of School of Victoria School - Saigon South and Mr Mark Tappin, Tech Advisor to the BOD, Development of Victoria School System Co. Ltd, as the witnesses.

Front row from left: Mr Lee Leong Seng, Head of Property Development/Residential, Real Estate (Vietnam), Keppel Ltd., and Mr Dallas Cheung, General Director, Red Circle Co., Ltd, as the signatories.

Back row from left: Mr Alvin Lee, General Director Ms Nguyen Le Quynh Nhu, Deputy General Director of CELESTA City; Ms Le Thi Kim Hang, Legal and Compliance Director and Ms Nguyen Thi Phuong Thao, Business Development Director, Red Circle Co., Ltd, as the witnesses.

Front row from left: Mr Lee Leong Seng, Head of Property Development/Residential, Real Estate (Vietnam), Keppel Ltd., and Mr Hoang Nguyen Cong, Regional Sales Manager, King Food Market Corporation, as the signatories.

Back row from left: Mr Alvin Lee, General Director Ms Nguyen Le Quynh Nhu, Deputy General Director of CELESTA City; Ms Nguyen Minh Thu, Marketing Manager and Mr Pham Ba Quoc, Expansion Manager, King Food Market Corporation, as the witnesses.

Keppel’s representative (second from left) and the partners’ representatives taking a group photo.

The representatives of Keppel and CELESTA City, the pilot project of the collaboration, along with the partners, participated in watering the trees as part of the signing ceremony.

The representatives of Keppel and CELESTA City along with the partners taking a group photo at the event.

 

About Keppel

Keppel Ltd. (SGX:BN4) is a global asset manager and operator with strong expertise in sustainability-related solutions spanning the areas of infrastructure, real estate and connectivity. Headquartered in Singapore, Keppel operates in more than 20 countries worldwide, providing critical infrastructure and services for renewables, clean energy, decarbonisation, sustainable urban renewal and digital connectivity. Keppel creates value for investors and stakeholders through its quality investment platforms and diverse asset portfolios, including private funds and listed real estate and business trusts.

For further information, please contact:

Trang Le (Ms)

Vice President, Marcom & Customer Experience

Real Estate (Vietnam), Keppel Ltd.

Tel: 0903 918 929

Email: tranglt@keppel.com

 

ANNEX

Takashimaya Interior Limited

Takashimaya Interior Limited operates in the design industry, providing a range of products and services, including upscale home interior design.

Menas Company Limited

Menas Company Limited is a name in the operation and development of Shopping Centers, Supermarket, Franchise Management of various brands, Yum Food Village and F&B services.

Development of Victoria School System Co. Ltd

Development of Victoria School System Co. Ltd was established to accompany the residential community on the journey of educating and training generations of grit as well as confidence to express themselves and become Global Citizens.

King Food Market Corporation

King Food Market Corporation, a member of the Seedcom Group, specialises in providing high-quality food products and diverse retail services.

Red Circle Co., Ltd.

Red Circle Co., Ltd, also known as Circle K, is a convenience store chain operating 24/7, offering a wide range of products and convenient services to meet the daily needs of consumers.