Keppel Ltd said it has achieved its 2026 monetisation target of $2b to $3b ahead of schedule following divestment in its Vietnam project. The group, through its real estate division, has entered into a conditional agreement to divest its entire 40% equity interest in Empire City LLC for an aggregate cash consideration of $343m (US$270m). EC was established to develop a waterfront site in the Thu Thiem New Area in Ho Chi Minh City, Vietnam, comprising residential and mixed-use developments. Under the agreement, Keppel will divest 20% equity interest in EC to Denver Power Vietnam Company Limited, a wholly-owned subsidiary of Denver Power Ltd, and the other 20% equity interest to Golden Axis Company Limited, which is 99.99% owned by Tran Thai Lands Company Limited and Tien Phuoc Real Estate Joint Stock Company. Lee Kok Chew, head of Keppel’s Accelerating Monetisation Task Force, said that once the divestment was realised at the end of the year, they will have reached approximately $2.1b of monetisation.