GLOBAL - Composition Capital Partners has formed two joint ventures with local real estate partners in Asia as part of plans to enter the Malaysian and Vietnamese markets.
In Malaysia, Composition Capital will develop suburban residential projects in Kuala Lumpur, Klang Valley and Penang, aiming to meet local demand in an area with a stable economic base and continuing urbanisation, the company said.
The partnership's first acquisition is expected to be completed in the first quarter.
In Vietnam, Composition Capital is looking to acquire development projects across sectors where zoning is already permitted or pre-approved, reducing both risk and length of realisation period.
The joint venture expects to complete its first transactions shortly, but did not provide any further details on the deal.
Composition Capital said: "The opportunities offer entry to the Malaysia and Vietnam markets at a point in the cycle when compelling deals and attractive returns are available.
"In Vietnam, the venture starts at a moment in the cycle where there is immediate availability in the market of deeply distressed real estate opportunities."
Bill Shaw, Composition's director for Asia, added: "These investments provide access to niche areas in both the Malaysian and Vietnamese markets at a time when we are seeing great opportunities available.
"The key to accessing these opportunities is working with local partners who have local knowledge, presence, alignment and the capacity to source and execute."