VinaLand divests its stake in Project Romana Resort & Spa – VinaLand Limited (VNL) is an AIM-quoted investment vehicle established to target strategic segments within Vietnam’s emerging real estate market.
The company has announced that it has disinvested from one of its holdings, a 96 bedroom hotel called the Project Romana Resort & Spa in Binh Thuan province, Vietnam, which it aquired in 2008. The company has received US$ 4.8m for the sale.
In its announcement, VNL says that the disposed of its entire stake in the Project is at a total valuation 12.5% above the 31 March 2018 unaudited net asset value. It is also 15.1% above the unaudited net asset value at the time of VNL’s extraordinary meeting in November 2016. Both of these figures include adjustments for additional investments up to the date of exit.
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Vinaland invests in key growth segments within Vietnam’s emerging real estate market, including residential, office, retail, hospitality and township projects. The manager’s objective is to provide shareholders with an attractive level of income as well as creating a potential for capital growth.
VNL : VinaLand divests its stake in Project Romana Resort & Spa