Protego Real Estate Investors is to enter the Vietnamese market through the relationship with developer Quodos Asia.
It will focus on luxury apartments in popular urban locations, estates in suburban and costal locations and boutique branded resorts and villas. The fund has lined up the purchase of a portfolio of five properties to seed it.
Charles Weeks, head of business development at Protego said: 'What is happening in Vietnam is very exciting. The central Vietnamese government is pursuing a supportive and reformist agenda, which culminated in Vietnam joining the Wealth Trade Organisation last year.
'It is a stable country, second only to China with the second or third highest GDP growth rate in the world, depending on who you speak to, with an extremely favourable demographic profile.’
Vietnam is the 13th largest country in the world, by population, at 85m [people], and this is predicted to grow to 100m by 2025. There has been significant inward investment, as the economy changes from a primary exporter of agricultural goods, to a manufacturing economy and now a rapidly expanding electronics and software industry.
