Vietnam's Indochina Capital announced the launch of two new funds: Indochina Infrastructure Holdings; and its third real estate fund, Indochina Land Holdings 3, which together aim to raise $1 billion.

Indochina Infrastructure will invest in infrastructure projects and companies that promote sustainable development. Target investments include: energy-efficient or pollution-reducing power projects, such as solar, wind or hydro projects; rail projects, which are cleaner than road transport; forestry projects and water and waste treatment businesses.

Indochina Infrastructure also plans to work closely with the Vietnamese government and other regional governments to help solve the current traffic problems - at the moment you could paint your nails or shave while stuck in traffic in HCMC, it's that congested.

And Indochina Infrastructure's team will also work with Indochina Capital's real estate division (which is, after all made up of the same top officials) to build green cities that are energy efficient. The first of these projects is Park City located in Binh Chanh District where the aim is to build a 100 hectare satellite city with residential, parks, entertainment and themed retail.

ôTo our knowledge this is the first fund in the world that combines an environmental and sustainable focus with infrastructure investments,ö says Rick Mayo-Smith, CEO of the new division, Indochina Infrastructure.

Peter Ryder, CEO of Indochina Capital, will also assume the CEO position at Indochina Land, where he has been leading the fund's efforts in the North and the Central regions.

Indochina Land Holdings 3 will be the groupÆs third real estate fund with a target amount of $500 million plus. The new fund will develop and finance real estate projects covering the full range of property types from residential, retail & commercial, resorts & hotels, to industrial properties around Vietnam.

ôWith the recent boom of the economy, VietnamÆs real estate market is developing very rapidly and there is growing demand for high-quality properties among high-net-worth individuals, national and international companies. Indochina LandÆs third fund represents our strategic move to expand our portfolio to meet the demand of this market segment. We will continue to monetise unique real estate opportunities by combining residential properties with either major urban commercial centres or luxury tourism destinations,ö said Ryder.

Proving itself a good corporate citizen, Indochina Land recently contributed $500,000 towards the restoration of the HCMC Opera House roof. In addition to the conservation of VietnamÆs architectural heritage, Indochina Capital has also made significant contributions to Danang City and Quang Nam Province to support social and educational services.