Vinpearl, the hospitality subsidiary of Vietnamese juggernaut Vingroup, has secured a $225-million strategic investment from SeaTown’s private credit arm; and Vietnam Oman Investment (VOI), the local joint venture of the Oman Investment Authority.
The investment has been made through convertible dividend preference shares issued by Vinpearl, per an announcement by the company.
VOI said in a separate statement that it contributed $100 million to the investment.
“Vietnam’s tourism and hospitality sector continues to demonstrate long-term growth potential, driven by rising domestic demand and growing international arrivals,” the statement read, citing a representative from SeaTown.
An executive from VOI added: “We see Vietnam as one of the most dynamic economies in the region, with substantial long-term growth potential. Based on that conviction, we are broadening our investment focus into new high-growth areas, and Vinpearl is a flagship example of this strategy.”
Founded in 2003, Vinpearl operates 60 facilities across 20 provinces and cities in Vietnam, including hotels and resorts, VinWonders theme parks, golf courses, convention and performing arts centres, and semi-wildlife conservation parks, in addition to an equestrian academy and large-scale live entertainment shows.
Prior to Vingroup, SeaTown has invested in Vietnamese companies including The CrownX—an integrated retail unit of Masan Group; e-commerce enabler OnPoint; and restaurant group Golden Gate.
Meanwhile, VOI has been investing in Vietnam for nearly two decades, having disbursed $384 million.
This is not the first time Vingroup has tapped private credit for its operations. Previous transactions include a $150-million loan from the Asian Development Bank for Vinschool; a$510-million debt facility from SeaTown and Deutsche Bank for VinFast; and another $240 million for its shopping mall business Vincom Retail.
