CapitaLand Development strengthens footprint in Vietnam with strategic partnership with Vinhomes and unveiling The Fullton, a US$800 million residential development in North Vietnam

(BDO) On May 5, in Hanoi, CapitaLand Development (CLD) officially announced two important steps in its development strategy in Vietnam: signing a strategic cooperation agreement with Vinhomes Joint Stock Company (Vinhomes - Stock code: VHM), Vietnam's leading real estate developer, and launching The Fullton, a low-rise housing project in Hung Yen province with a total development value estimated at 800 million USD.

The cooperation agreement between CLD and Vinhomes marks an important milestone in the relationship between the two leading prestigious real estate developers; thereby, creating the premise for joint ventures to develop large-scale projects, contributing to creating sustainable values for the Vietnamese real estate market. The success of CLD's previous projects in Vinhomes urban areas such as Lumi Hanoi at Vinhomes Smart City and The Senique Hanoi at Vinhomes Ocean Park is a solid foundation for more comprehensive and extensive cooperation.

The signing ceremony of the Memorandum of Understanding was attended by Mr. Jonathan Yap, General Director of CLD (middle) and Mr. Pham Nhat Vuong, Chairman of Vingroup (fifth from left), along with leaders of both sides.

Mr. Tan Wee Hsien, General Director of CLD Vietnam and International, said that Vietnam is one of CLD's key markets, along with Singapore and China. Through the strategic cooperation with Vinhomes, CLD will more than double its investment capital in this market within the next 5 years. "Vinhomes' in-depth understanding of the market, along with CLD's comprehensive capabilities in design, development and asset management, will help strengthen the position of the parties on the journey to contribute to the development of the Vietnamese real estate market," Mr. Tan Wee Hsien shared.

Perspective of The Fullton, CLD's first low-rise project in Hung Yen province

Ms. Nguyen Dieu Linh, Vice President of Vingroup Corporation, Member of the Board of Directors of Vinhomes Joint Stock Company, said that the strategic cooperation with CapitaLand Development, one of Asia's leading real estate corporations, marks an important step forward in Vinhomes' development journey. "This is also a testament to our commitment to building the most classy and livable urban areas in Vietnam, bringing a better life to the community. In the coming time, Vinhomes and CapitaLand Development will cooperate to develop urban areas according to international standards, creating ideal and luxurious living spaces, contributing to building a civilized, modern and prosperous community of residents nationwide," said Ms. Nguyen Dieu Linh.

Minh Duy

Source: https://baobinhduong.vn/capitaland-development-ky-ket-cung-vinhomes-phat-trien-du-an-800-trieu-usd-a346419.html