Keppel Commits $3.8 Billion to Power Vietnam’s Green Urban Future

HANOI — In a rapidly urbanizing Vietnam, where the skyline continues to evolve with a blend of tradition and modernity, Keppel Corporation is reaffirming its commitment to driving the future of real estate and infrastructure. With over three decades of presence and an investment portfolio valued at approximately $3.8 billion, Keppel has cemented itself as one of the largest foreign real estate investors in the country.

Joseph Low, President of Keppel’s real estate division in Vietnam, shared the company’s strategic vision for 2025 and beyond, emphasizing sustainable urban renewal and innovative urban space solutions. Speaking to the Vietnam Investment Review, Low highlighted Keppel’s focus on leveraging technology to deliver sustainable and customer-centric developments that enrich communities.

Keppel’s legacy in Vietnam is marked by iconic projects such as Estella Heights, Celesta Rise, and Empire City, alongside Grade A commercial developments like Saigon Centre in Ho Chi Minh City. This year, the company is set to launch Hanoi Centre, further strengthening its retail presence in the capital city.

To fuel its ambitious expansion, Keppel is attracting international investors through its flagship private equity initiative, the Keppel Vietnam Fund. This fund combines capital from Keppel and global institutional investors to co-invest in high-quality residential and mixed-use projects across Hanoi and Ho Chi Minh City.

In alignment with Vietnam’s pledge to achieve net-zero carbon emissions by 2050, Keppel is championing sustainable urban development. Low detailed how the company integrates low-carbon energy solutions, chemical-free cooling systems, and eco-friendly building materials across its projects. These initiatives are designed to meet high green standards and promote energy efficiency.

A standout example is the Saigon Centre, where Keppel’s sustainable urban renewal initiatives have yielded over 40% energy savings since July 2023. Additionally, the Centre generated more than 166,000 kWh of renewable energy from rooftop solar panels between 2021 and 2024, setting a benchmark for sustainable commercial developments in Vietnam.

Keppel’s sustainability efforts extend beyond green buildings. In 2023, the company introduced an innovative Energy-as-a-Service (EaaS) model in Vietnam, offering subscription-based solutions for energy supply, cooling, and smart energy management. This model empowers businesses to reduce energy costs without substantial upfront investments, aligning with Vietnam’s green growth agenda.

Keppel’s influence in Vietnam goes beyond urban landscapes, touching lives through impactful corporate social responsibility (CSR) initiatives. Since 2021, the company has contributed over $560,000 to support communities affected by Typhoon Yagi and COVID-19 relief efforts.

A notable CSR project is the Living Well initiative, which provides clean water to drought-affected regions in the Mekong Delta, benefiting approximately 70,000 people. Additionally, Keppel’s Bytes for Future program is enhancing digital learning by equipping schools in Tay Ninh province with computers, air conditioners, and educational resources, impacting over 800 students.

With nearly 8,000 volunteer hours contributed by its employees, Keppel remains dedicated to uplifting communities while fostering environmental stewardship. The company’s tree-planting campaign in Dong Nai province, part of Vietnam’s national initiative to plant one billion trees, underscores its commitment to sustainable growth.

As Vietnam accelerates its digital transformation and sustainable urbanization, Keppel is poised to play a pivotal role in shaping the nation’s future. The company is actively pursuing new opportunities in data center development, leveraging its expertise from operating 35 data centers across Asia-Pacific and Europe.

Joseph Low is optimistic about the company’s future in Vietnam, emphasizing the potential for green infrastructure, urban renewal, and digital connectivity solutions. “With Vietnam’s strong focus on sustainable development, Keppel is well-positioned to bring in global financial investors and deliver smarter, greener solutions,” Low stated.

With a clear vision and a steadfast commitment to sustainability, Keppel is not just building structures but nurturing communities and pioneering Vietnam’s urban future.