SINGAPORE, June 23 (Reuters) - VinaCapital, Vietnam's largest asset manager, aims to raise $350 million in a real estate private equity fund in September to tap a local sector that it thinks has bottomed, a company official said on Tuesday.
The proposed VinaCapital Vietnam Land II fund will focus on residential developments, shopping malls and business hotels, David Blackhall, deputy managing director of VinaCapital's real estate arm, told Reuters in an interview.
"Vietnam is already showing signs that it has stabilised," he said, adding the residential sector offered the greatest potential because prices had fallen sharply since the end of 2007 and the country's growing middle class could afford to buy homes.
