CapitaLand to increase presence in Vietnam, including a possible Raffles City

Romesh Navaratnarajah28 Mar 2017

Seasons Avenue

Artist’s impression of Seasons Avenue, a new residential development in Hanoi. (Image source: CapitaLand)

Property giant CapitaLand has revealed plans to acquire more sites in Vietnam for residential development, which could yield up to 2,500 housing units this year.

The Singapore-listed developer is also keeping a close eye on investment opportunities in other segments, such as serviced apartments, offices and integrated developments.

With more than 9,000 homes and around 4,600 serviced residence units across the country, Vietnam has emerged as CapitaLand’s third largest market in Southeast Asia after Singapore and Malaysia, said its President and Group CEO Lim Ming Yan.

In fact, CapitaLand’s residential sales for FY2016 increased 12 percent year-on-year to 1,480 units, or a total sales value of about S$282 million.

“We currently have S$2.1 billion worth of gross assets under management in Vietnam, including 22 serviced residences, nine residential developments and a prime commercial property,” noted Lim.

“CapitaLand has established itself as a strong real estate developer which contributes to Vietnam’s urbanisation story. With the trajectory of Vietnam’s urban modernisation, we see Ho Chi Minh City as a potential home for a Raffles City – our flagship brand of integrated developments located in city centres with excellent connectivity to key transport nodes.”

In a statement, the company also revealed that it will be topping out one of its nine residential developments, Seasons Avenue in Hanoi, later this week.

The 1,300-unit development comprises four towers that were designed based on the theme of four seasons.


Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email


You may also like these articles

Opportunities abound in Malaysia

Johor’s proximity to Singapore and lower living costs have always been an attractive proposition for Singaporean investors. With a slew of infrastructure improvements coupled with the completion

Continue Reading24 Mar 2017

HK property rebound may last years, says tycoon

Sky-high property prices in Hong Kong are not expected to fall anytime soon. With growing property demand outweighing government curbs, Hong Kong’s richest man, Li Ka-Shing, expects the property

Continue Reading24 Mar 2017

Myanmar property market sluggish due to ambiguous law

Despite easing foreign ownership rules on Myanmar property, the country's housing market is still facing a slump. The uncertainty over a law that permits foreigners to purchase condo units in Myanm

Continue Reading24 Mar 2017