CapitaLand Development Acquires a Prime Mixed-Use Site in Ho Chi Minh City with an Estimated Gross Development Value of S$1 Billion
Summary
The project is expected to be launched in 2024 and scheduled for completion by 2027.A popular investment destination, Thu Duc City is set to home several tech companies, medical facilities, logistics and commercial developments. Given its strategic location and excellent connectivity, the prime mixed-use project in Thu Duc City will add to CLD’s quality residential portfolio in Vietnam where we have over 13,000 units across 17 properties. DEFINE, CLD’s recent luxury residential development in Thu Duc City, was well-received and fully booked within two hours at its exclusive preview.”“Leveraging CLD’s global real estate expertise in delivering high-quality residential projects, we are confident of transforming our latest site in Thu Duc City into a vibrant and iconic mixed-use development that will meet the evolving aspirations and needs of discerning homebuyers and consumers. Sales of ZENITY in Vietnam is expected to be launched in 3Q 2022.About 90% of the units in Heritage West Lake, CLD’s first luxury residential development in Hanoi, have been booked since its exclusive preview in April 2022. The 173-unit Heritage West Lake features multiple first-in-market amenities such as a private lift lobby for all units and a rooftop heated swimming pool.