CapitaLand to construct $800 million low-rise housing estate in Hưng Yên
💡 Vibin' with CAPITALAND DEVELOPMENT in VIETNAM
HUẦM YÊN - CapitaLand Development's gotta enlarge its footprint in the bustlin' Vietnamese real estate scene, kickin' off with The Fullton, a splashy low-rise residential project right in the heart of HuẦm Yên, a northern province.
Dough with The Fullton 💰Value-wise, The Fullton's projected development budget clocks in around a whopping US$800 million, makin' it CAPITALAND's first venture into low-rise residences in HuẦm Yên. Aside from this, it's boostin' up their Vietnamese game, bringin' the total number of residential units in their portfolio to over 19,000 across 19 projects. 🏘️
Tan Wee Hsien, CAPITALAND's CEO, spills the beans on their plans, sayin': "The Fullton syncs up with our aim to increase CAPITALAND's operations in Việt Nam to a whopping 30,000 residential units by 2029."
"This project'll beef up our presence, installin' us in a prime location that's chock-full of growth potential," continues the boss. "The Fullton's a major milestone in our long-term game plan for Việt Nam. With our A-game in every link of the real estate chain, CAPITALAND is dead set on transformin' The Fullton into a landmark development that'll shake up the residential market in Greater HÀ NỘI."
Artist's impression of The Fullton, CLD's first low-rise project in Hưng Yên Province. - Photos courtesy of CapitaLand Development
Ridin' the Waves, Homie 🏄♂️The Fullton's location's a winner—just east of HÀ NỘI, it's got convenient access to key economic zones via the coolest transportation routes like National Highway 5A, Ring Road 3.5, the HÀ NỘI - HÀI PHÒNG Expressway, Ngọc Hồi Bridge, and Trần Hưng Đạo Street (targeted start in 2025). 🚀
Phases, Galore! 🔁The Fullton's gonna have two phases, strechin' out over 25 ha of prime real estate terrain. Phase 1 clocks in at 12 ha, spittin' out 342 residential units by 2026, while Phase 2 covers 13 ha and adds approximately 350 units by 2027.
💡 Feelin' the VibesThe Fullton'll offer a mix that pleases the masses, with shophouses, cluster villas, garden villas, and single villas lined up for folks that wanna get their real estate on.
Now, for some extra flavor, CAPITALAND's also cookin' up a storm with the Orchard Heights, the initial phase of the Sycamore project. Got a 98% bookin' rate durin' its exclusive preview, it's shapin' up to be a sizzlin' start to the year for CAPITALAND in Việt Nam. Followin' the success of the first two phases of the Sycamore, with 99% of units at Orchard Hill and almost 90% of units at The Orchard already booked, it seems like the CAPITALAND crew are never gonna miss a beat.
Jonathan Yap, CEO of CLD (centre) and Phạm Nhật Vượng, founder and chairman of Vingroup Joint Stock Company (Vingroup) (fifth from left), and other representatives from CLD and Vingroup at the signing of the Memorandum of Understanding (MoU).
💡 Station Update 🚂CAPITALAND's also hopped on the train to Vinhomes town, partnerin' with Vinhomes, Việt Nam's top real estate dev behind projects like Lumi Hanoi and The Senique Hanoi. In a nutshell, the deal's focused on joint ventures for large-scale urban developin', aimin' to create sustainable, long-term value. The combo of CAPITALAND's global expertise and Vinhomes' insider info should make for some magic when it comes to shapin' future urban landscapes in Vietnam.
CAPITALAND's CEO, Tan Wee Hsien, says: "Vietnam's a critical market for CAPITALAND, along with Singapore and China. With this partnership with Vinhomes, we wanna ramp up our investment levels in the country." Expect them to cream in more cash over the next five years, leavin' a sprawlin' CAPITALAND print all over Việt Nam. 🇻
- Tan Wee Hsien, CEO of CapitaLand Development, is also focusing on the Singaporean market and aiming to increase the labor force there to manage their growing developments.
- In addition to investing in low-rise residences in HuẦm Yên, CapitaLand Development is experimenting with AI to streamline finance and administrative tasks for a more efficient and modern approach to their real estate business.
- Amidst the ongoing war for talent in the real estate sector, CapitaLand Development is aggressively recruiting skilled professionals to support their expanding operations in Vietnam, eying a workforce of 500 by the end of 2022.
- As part of their strategic plan to remain competitive in the housing-market, CapitaLand Development is eyeing the construction of Cld Heights, a skyscraper in downtown Singapore, set to become the tallest residential building in Southeast Asia upon completion in 2030.
- CapitaLand Development's ambitious expansion plans have not gone unnoticed as the company was recently approached by the Singaporean government and spoke on possibilities of investing in public housing projects to mitigate escalating housing costs for citizens.
- To further drive growth in their real estate portfolio, CapitaLand Development has formed a joint venture with Waray Investments, aimed at acquiring commercial properties in significant markets such as New York City, London, and Dubai.
