Grab Vietnam and Lazada Vietnam will partner to provide a seamless digital experience to consumers in the country, while Singapore-based ARA Asset Management’s Korean subsidiary has acquired a landmark office tower in Seoul.
Grab partners with Lazada Vietnam
Grab Vietnam and e-commerce firm Lazada Vietnam today announced a partnership that aims to provide a seamless digital experience to consumers in the country. Under the partnership, Grab Vietnam and Lazada Vietnam will enhance services across various sectors.
Starting from 11 November, Vietnamese consumers will be able to access GrabFood from the homepage of Lazada’s app and web page. Grab’s users in Vietnam can also easily access Lazada’s platform via several links embedded in campaign-based banners and widgets on the Grab app’s homepage.
This partnership aims to reinforce the two companies’ consumer-focused strategies and fulfil Vietnam’s growing need for more convenient and smarter digital payment services as part of an effort to promote Vietnam’s digital economy.
“Through the collaboration with Lazada Vietnam, we will be able to catalyse this growing trend to cater to consumers’ increased digital needs, support social commerce and micro-entrepreneurs as well as provide more income opportunities for our delivery partners; hence, creating an outsized impact on Vietnam’s economy in the new normal,” said Nguyen Thai Hai Van, managing director of Grab Vietnam.
“This partnership between Lazada and Grab in Vietnam aims at creating a sustainable digital ecosystem that will deliver the best service to our shoppers, brands, and sellers,” said James Dong, CEO of Lazada Vietnam.
ARA Asset’s unit acquires Korean tower for $897m
Singapore-based ARA Asset Manament Limited (ARA) announced that its Korea subsidiary has completed the acquisition of Parc1 Tower II, a landmark office tower in Seoul, at a value of 1 trillion won ($897 million), according to an announcement.
The transaction is slated to be the largest single asset transaction in Korea this year.
“We are pleased to extend our longstanding partnership with NH Investments and Securities (NH I&S) to acquire Parc1 Tower II, an iconic, new development located in a core area of Yeouido Business District in Seoul. Given its prime location, we expect strong leasing demand, with NH I&S pre-committing to more than one-third of the tower’s gross lettable area,” said CEO of ARA Korea, Anthony Kang.
ARA is a leading APAC real assets fund manager with a global reach. With S$110 billion in gross assets under management as of 30 June 2020, ARA manages listed and unlisted real estate investment trusts (REITs), private real estate equity and credit funds, and infrastructure funds in 28 countries.
In March, ARA acquired a majority stake in the Australia-based logistics property group LOGOS Group. Details of the transaction pertaining to the deal size and valuation were not disclosed. According to an IPE Real Assets report, the investment by ARA is in the range of S$500m (nearly $361 million).