CapitaLand to buy Vietnam residential site for $81.4m

It is a 60,000 sq m site that could yield more than 100 landed units.

CapitaLand will acquire a 60,000 sq m in Ho Chi Minh City for $81.4m (VND1.38b), an announcement revealed.

The site will be the firm’s 13th residential development in Vietnam which is expected to yield more than 100 landed residential units eyed for completion by 2021.

Located in the District 2 of the City, it is located to the new financial centre and the urban area of Ho Chi Minh whilst the Central Business District, and the saigon Hi-Tech Park are both a 10-minute drive away.

Moreover, several major infrastructure developments are under construction near the site which could boost its connectivity.

“Given the site’s location and connectivity, coupled with CapitaLand’s building expertise and experience, we are confident that the landed development will appeal to homebuyers and investors seeking international quality, well-designed homes with good potential for capital appreciation,” CapitaLand Vietnam CEO Chen Lian pang commented.

CapitaLand president and group CEO Lim Ming Yan noted that 93% of the firm’s launched residential units have been sold as of June. The firm has an existing portfolio worth $1.1b in the country.

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