It has earlier mobilised $37 million in 2013 and $46 million in 2016.

With this round, SonKim Land aims to continue developing attractive properties across Viet Nam, including luxury residential, commercial and hospitality developments in HCM City.

Hiroyuki Ono, Partner at ACA Investments, a fund investment group based in Singapore, said: “We are delighted to increase our investment in SonKim Land more than five times from the initial investment in 2016. We are pleased to correspond to their achievement by bringing more capital together with a new investor like Credit Suisse. We continue to support SonKim Land and looking forward to bigger successes.”

Nguyen Hoang Tuan, chairman of SonKim Land, said: “The success of this $121m fundraising with investments by prestigious international investors marks a great milestone for SonKim Land.

“We are also proud to attract more new investors, including Skymont Capital and Credit Suisse, one of the biggest international banks.

“We will continue to uphold our reputation as the pioneering luxury property developer in Viet Nam as well as further expand our business in larger scale projects in the residential, commercial and hospitality sectors.” — VNS