Advertisement
Singapore markets closed

  • Straits Times Index

    3,280.10
    -7.65 (-0.23%)
     

  • Nikkei

    37,934.76
    +306.28 (+0.81%)
     

  • Hang Seng

    17,651.15
    +366.61 (+2.12%)
     

  • FTSE 100

    8,116.99
    +38.13 (+0.47%)
     

  • Bitcoin USD

    63,787.68
    +1,004.05 (+1.60%)
     

  • CMC Crypto 200

    1,385.44
    -11.09 (-0.79%)
     

  • S&P 500

    5,048.42
    -23.21 (-0.46%)
     

  • Dow

    38,085.80
    -375.12 (-0.98%)
     

  • Nasdaq

    15,611.76
    -100.99 (-0.64%)
     

  • Gold

    2,361.50
    +19.00 (+0.81%)
     

  • Crude Oil

    84.39
    +0.82 (+0.98%)
     

  • 10-Yr Bond

    4.6630
    -0.0430 (-0.91%)
     

  • FTSE Bursa Malaysia

    1,575.16
    +5.91 (+0.38%)
     

  • Jakarta Composite Index

    7,036.08
    -119.22 (-1.67%)
     

  • PSE Index

    6,628.75
    +53.87 (+0.82%)
     

CapitaLand acquires prime landed estate site in Ho Chi Minh for $81.4 mil

timothy.tay@edgeprop.sg
Updated

CapitaLand has acquired a prime site in Ho Chi Minh City in Vietnam for $81.4 million, which it will redevelop into its 13th residential project in the country. The Singapore-listed property giant plans to build more than 100 landed residential units on the 645,834 sq ft site, which are expected to be completed by 2021.

The site is in the Binh Trung Dong Ward in District 2 of Ho Chi Minh City, and is close to amenities like international schools, shopping malls, supermarkets, and F&B outlets. It is served by the city’s Ring Road 2, and is close to the new financial and urban areas of Cat Lai Port and Thu Thiem.


An artist impression of the landed homes that will be developed on the new site (Pictures: CapitaLand)

ADVERTISEMENT

This is CapitaLand’s third land acquisition this month as it replenishes its land bank in Vietnam, and it will also be the developer’s ninth residential development in the district, says Lim Ming Yan, CapitaLand’s group CEO. “CapitaLand has been seeing year-on-year growth in our Vietnam home sales, which are continually contributing to the Group’s earnings. As of 30 June 2018, 93% of CapitaLand’s launched residential units in Vietnam have been sold. We expect to hand over more than 30% of the 2,680 units in Vietnam that have been sold at approximately S$811 million in the second half of 2018”.

CapitaLand’s first landed development in Vietnam, called D2eight, was sold out within a day of its launch on April 8, and the group is confident that the new development will appeal to “homebuyers and investors seeking international quality, well-designed homes with good potential for capital appreciation,” says Chen Lian Pang, CEO of CapitaLand Vietnam.


CapitaLand's first landed development in Vietnam, D2eight, was sold out within a day of its launch on April

Related Articles From EdgeProp.sg
Loft suites opportunity at Marine Blue
CapitaLand buys prime residential site in Ho Chi Minh City for $81.4 mil
CapitaLand CIO Lee Chee Koon to succeed Lim Ming Yan as president & group CEO
Luxury residence in UK’s Birmingham to showcase in Singapore