Property News · January 18, 2016

CapitaLand bolsters its foothold in the Vietnamese market


The company now owns 90 percent of a Ho Chi Minh City-based project
The Vista | Courtesy of CapitaLand (Vietnam)
Singapore’s CapitaLand, through CapitaLand (Vietnam) Holdings, has beefed up its interest in its CapitaLand Vista joint venture by acquiring an additional 10 percent stake from joint venture partner Thien Duc Trading Construction Co Ltd, the company announced last weekend.
The deal, estimated to be worth USD2.65 million, gives CapitaLand a total of 90 percent ownership in The Vista mixed-used development in Ho Chi Minh City.
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According to DealStreetAsia, the 750-unit residential project in the development has already sold 90 percent of its units to date. The project also consists of a 35,000 sqm commercial component with a retail podium, offices and 100 units of Somerset serviced residences.
CapitaLand’s further investment is in line with the company’s strategy of strengthening its Vietnamese recurring portfolio.

Source : property-report.com
Read more…CapitaLand bolsters its foothold in the Vietnamese market

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