LONDON (ShareCast) - Emerging market investment company VinaCapital has invested $15m into Novaland Group, a real estate developer in Vietnam.
VinaCapital said the deal is part of a $47m syndicated investment into convertible preferred shares of Novaland.

Novaland had $753.4m in presold projects at the end of last year, and has more than $190 in signed contracts to acquire additional land.

VinaCapital Vietnam opportunity fund managing director Andy Ho said Novaland group has a good track record and large existing land bank.

"The company has also done a tremendous job in reducing risk by diversifying their projects among several residential hubs throughout the city with a dense population and existing infrastructure," Ho said in a statement.

Ho said the investment falls within VinaCapital's strategy to gain exposure in the real estate sector

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