CapitaLand pushes its fourth project forward
CapitaLand pushes its fourth project forward
Leading Singaporean developer CapitaLand has pushed forward with its Vista Verde project by appointing Construction Joint Stock Company No.1 as contractor.
Located on a prime site in the heart of Ho Chi Minh City’s District 2, the developer’s fourth Vietnam-investment comprises 1,152 high-end apartments across four 35-storey residential towers with spectacular views of the Saigon River, Phu My Bridge and the surrounding city.
The project is located in the heart of District 2’s administrative centre and five minutes away from the Metro Hypermart, Parkson Department Store, Lotte Cinema, Phuc An Khang Hospital, and international schools such as ACG.
It is also 10 minutes away from District 1 and 7, with excellent connectivity via the Thu Thiem Tunnel, Thu Thiem Bridge, Saigon Bridge and Phu My Bridge. The project is targeted to complete by mid-2017.
According to Chen Lian Pang, CEO of CapitaLand Vietnam, with the success of residential projects in Vietnam such as The Vista, ParcSpring, and Mulberry Lane, the construction of the Vista Verde marked an important milestone for CapitaLand Vietnam.
“We are aiming to complete and handover the project to homebuyers by mid-2017 according to our schedule. As a long-term real estate developer in Vietnam, we are committed to our delivery track record of high-quality real estate products and services,” Pang said.
At the soft launch of Vista Verde in July 2014, more than 100 apartment units were sold.
Vista Verde is CapitaLand’s fourth residential project in Vietnam. CapitaLand’s other prime residential developments in Vietnam include 850-unit The Vista (District 2, Ho Chi Minh City), the 974-units ParcSpring (District 2, Ho Chi Minh City) and the 1,478-unit Mulberry Lane (Ha Dong district, Hanoi).
Vietnam is one of CapitaLand’s key markets in Asia. The real estate market in Vietnam is supported by the country’s strong economic growth, rapid urbanisation and a young and growing population. CapitaLand executives said the firm was committed to being a long-term real estate developer in the country.
CapitaLand’s current presence in Vietnam is in the four major cities – Ho Chi Minh City, Hanoi, Haiphong and Danang, in the residential and serviced residences sectors. In the residential sector, CapitaLand has a portfolio of close to 6,000 quality homes across six residential projects in Ho Chi Minh City and Hanoi. In the serviced residence sector, its wholly-owned serviced residence business unit, The Ascott Limited, has a portfolio of more than 1,800 apartment units in 12 properties across the four major cities, making it the largest international serviced residence owner-operator in the country.
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