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Keppel to Sell 40% Stake in Ho Chi Minh Empire City Project

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Keppel Group is divesting its entire 40% equity in Empire City, a Ho Chi Minh City real estate development, in a transaction valued at SGD 343 million. Keppel will sell 20% stakes to Denver Power Vietnam and Golden Axis Company. Completion is expected in Q4 2026, subject to equity-transfer registration approval and other conditions. The 14.6-hectare waterfront project is planned to include about 3,000 residential units plus office and retail and an 86-storey mixed-use tower.

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