CapitaLand Singapore

CapitaLand Development, the real estate development arm of CapitaLand Group (Sigapore), is negotiating to buy a part of Vinhomes Joint Stock Company (Vinhomes stock code VHM) – a member of Vingroup.

The asset value of the deal is $1.5 billion.

Capitaland Development is considering buying a part of Vinhomes’ Ocean Park 3 project, a 294-hectare resort city-style development near Hanoi or another in the north of Hai Phong city.

CapitaLand Development leaders have assessed Vietnam as one of the core markets, they are constantly looking for investment opportunities and hope to develop in Vietnam.

By the end of 2022, CapitaLand Development has an investment portfolio worth nearly 22 billion SGD (more than 387 trillion VND). This enterprise mainly develops integrated projects, retail zones, integrated offices, residential and residential areas, commercial zones, industrial parks, logistics blocks and data centers…

In Vietnam, CapitaLand has been implementing many large projects. CapitaLand Development has just cooperated with Toong (a pioneer start-up in the field of co-working space chain investment) to build and operate the first co-working space at the SOHO (Small Office Home Office) project. This coworking space is integrated in the SOHO @ Heritage West Lake project located in Tay Ho district, Hanoi. The project provides 202 apartments designed with multi-function, both as a workplace and as a residence, aimed at young businessmen and elites.

In Ho Chi Minh City, CapitaLand Development also launched De La Sol project in District 4. This project has 870 apartments, successfully sold 80% at launch with an average price of 96 million VND/m2. Expected to be completed by the end of this year.

And the DIFINE project, co-operated by Capitaland Development with Thien Duc Construction Trading Company Limited in Thu Duc City, has just topped off. The project has 88 apartments, the average price is 125 million VND/m2. Each apartment here has an average price of 23 billion VND (197-528m2) but was sold “in a flash” as soon as it was announced at the end of 2021.