Continuously developing a series of high-end real estate projects in both the Northern and Southern markets, CapitaLand has what it has in its 3 decades of presence in Vietnam.
Entering the Vietnamese market in 1994, CapitaLand Development (CLD) now has many real estate projects in Hanoi, Ho Chi Minh City and neighboring provinces such as Binh Duong.
Specifically, this unit started in Vietnam with serviced apartment and commercial projects. In 2007, it invested in housing project development for the first time with the appearance of The Vista project in Ho Chi Minh City. To date, CLD has developed an investment portfolio in Vietnam with a commercial area, a SOHO project, two complex projects, about 16,000 apartments in 17 housing projects in Hanoi, Ho Chi Minh City and other cities neighboring provinces like Binh Duong. Thanks to compliance with all legal regulations, projects developed by CLD (Vietnam) are completed on schedule and delivered to customers on time as committed.
CLD’s series of housing projects in Vietnam include: The Vista, Krista, Krisvue, D’edge Thao Dien, Parcspring, Vista Verde, Feliz En Vista, Delasol, D1mension, D2eight, Define, Heritage West Lake, Mullberry Lane, Season Avenue, The Krista…
Besides the housing sector, CLD representatives also see other potentials in the Vietnamese market that the Group can exploit. Those are areas where Vietnam is recording impressive growth such as trade, industry, and logistics. As the interest in sustainable development continues to rise, new possibilities for showcasing CLD’s capabilities are beginning to emerge.
Recently, CapitaLand Development has continuously developed a series of high-end real estate projects in both the Northern and Southern markets.
Worth mentioning, even during the recent difficult real estate market period, CLD still successfully M&A land funds and launched thousands of apartments in the Vietnamese market.
In recently released information, the Group set a target of developing 27,000 apartments in the Vietnamese market by 2028. The target is 70% higher than the Group’s current housing portfolio in Vietnam. . This unit’s strategy is currently clearly demonstrated through Sycamore and Lumi Hanoi, CLD’s two largest housing projects in Vietnam, with a total of about 7,500 apartments and a total project development value of $2 billion. Singapore dollars (equivalent to 36 trillion VND).
In particular, the Sycamore project located in Binh Duong new city has a total development value estimated at over 1 billion Singapore dollars (equivalent to 18 trillion VND). Sycamore provides about 3,500 long-term ownership apartments in low-, mid-, and high-rise subdivisions. The first phase is expected to be completed in 2024, and the entire project is targeted for completion in 2027. Sycamore is expected to launch in the second quarter of 2024.
Lumi Hanoi is a luxury apartment project, located in a prime location in the west of the Capital region, with a total development value estimated at 1 billion Singapore dollars (equivalent to 18 trillion VND). Stretching over a total land area of about 5.6 hectares, the project provides 4,000 apartments to the market with nine towers with heights from 29 to 35 floors developed in stages. This luxury apartment project is focused on building by CapitaLand with the goal of providing a private, self-contained living space, fully integrated with diverse amenities, expected to meet all the needs of the cultural community. located in the west of the capital.
Currently, CLD has 16,000 existing apartments, to develop an additional 11,000 apartments for the target of 27,000 apartments in the next 5 years in the Vietnamese market. CLD representatives said they will promote capital deployment activities in Vietnam. and expand the development roadmap through strategic cooperation with reputable domestic and foreign partners. The group’s strategy is to focus on large projects, conveniently located in key markets such as Hanoi, Ho Chi Minh City, and neighboring urban areas such as Binh Duong.
Seeing Vietnam as one of the core markets for real estate development, CLD representatives confidently said that Vietnam’s GDP in 2023 will reach an impressive growth rate of 5.05% – the fastest growth rate. in the Southeast Asia region. With a population of more than 100 million people and the increase of the middle-class segment, the demand for home buying in the Vietnamese market promises to be positively promoted.
Citing his words, a representative of CapitaLand said that the Group’s recent projects in Vietnam often achieve impressive absorption rates. For example, Define – a luxury apartment project located in Thu Duc City, Ho Chi Minh City recorded a 100% booking rate after only two hours of launch. The minimum price for each apartment is 1 million USD (equivalent to 24 billion VND). Similarly, Heritage West Lake, located in Tay Ho district, Hanoi capital, is also one of the Group’s successful projects when all 202 SOHO units were recorded as having sold out of reservations during the century. continent – right after the end of the launch event.
Currently, this multi-industry real estate group from Singapore owns more than 1,200 projects spanning over 40 countries and 260 cities. The Group has affirmed its bold mark in its extensive construction expertise by continuously expanding its portfolio of high-class projects, bringing high-quality working, living and playing spaces to the community.
By 2024, the Group’s two main business branches include CapitaLand Investment (CLI) – managing an investment portfolio of over 99 billion USD and CapitaLand Development (CLD) – with a real estate development portfolio of more than 16 billion USD. CLD alone possesses the ability to extensively develop diverse assets, including integrated projects, retail areas, integrated office areas, residential and housing areas, commercial areas, industrial parks, logistics blocks and data centers.
With strong expertise in master planning, land planning and project development, the unit has won many prestigious awards for many consecutive years including the Asia-Pacific Real Estate Award, PropertyGuru Asia Real Estate, PropertyGuru Vietnam Real Estate Awards and Golden Dragon Awards.
