Businesses from Singapore are seeking opportunities and accelerating investment in Vietnam ’s real estate market.

CapitaLand Holdings of Singapore said it plans to increase itsinvestment in real estate in Vietnam from 400 million to almost 2billion Singaporean dollars in the next three to five years. Meanwhile,Keppel Land is pouring its investment into the Saigon Centre tradecomplex and Saigon Sports City residential area projects in HoChi Minh City and southeastern Dong Nai province.

Secretary General of the Vietnam Real Estate Association Phan Thanh Maisaid that real estate remains a field that attracts Singaporeanbusinesses’ attention. In the context where Vietnam ’s projects arein need of capital, it is an opportunity for investors to seek capitaland experience from Singaporean partners, he said.

Savills Vietnam Deputy Managing Director Neil MacGregor recently saidthat despite global financial crisis, Vietnam is ranked as one of theleading destinations for Singaporean investors in Southeast Asia,surpassing Malaysia and India .

According to asurvey conducted by the ASEAN Economic Advisory Council in 2010, up to49 percent of 120 businesses operating in Singapore chose Vietnamto be their investment destination in the next three years.

At present, Singapore is implementing 50 real estate investmentprojects totalling more than 7.6 billion USD in Vietnam. /.