Malaysia’s Skyworld Development is set to invest US$14.15 million in land in HCMC on which it intends to build an apartment building, the New Straight Times is reporting.
Context: The real estate sector has found itself almost frozen after several high-profile arrests related to bond issuances. The economy is also struggling as a result of external factors, and local demand, as a result, is down too. This suggests that real estate firms may still be looking to asset sales to make ends meet.