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CapitaLand & Toong to extend partnership

Released at: 15:46, 31/03/2017

CapitaLand & Toong to extend partnership

Photo: Toong Co-Working Space

Singaporean real estate giant and Vietnam's leading co-working space provider to boost cooperation into the future.

by Quynh Nguyen

CapitaLand and Toong have committed to continuing to promote their strategic cooperation in building a chain of innovation centers and co-working spaces, promising to change the traditional office model in Vietnam.

After meeting with Prime Minister Nguyen Xuan Phuc on March 27, visiting President and CEO of Singapore’s CapitaLand Mr. Lim Ming Yan met with Mr. Duong Do, founder and CEO of Toong Co-working Space, at Toong’s newest location at The Oxygen mall in District 2, Ho Chi Minh City.

CapitaLand and Toong signed a memorandum of understanding last December to change the working environment in Vietnam.

The first-of-its kind bilateral partnership between one of Asia’s leading real estate companies and Vietnam’s leading developer and operator of co-working spaces promises to provide a more modern, progressive, and conducive working environment for startups and small and medium-sized enterprises (SMEs) amid the growing trend towards a sharing economy in Vietnam.

According to Mr. Do, Toong makes life easier by providing creative workplace solutions for businesses and individuals that are both aesthetically designed and economically sound. Using design to tell a story, every Toong co-working space emphasizes celebrating the history, culture, and heritage of the surrounding community.

 President and CEO of Singapore’s CapitaLand Mr. Lim Ming Yan (centre) visited an exhibition at Toong

CapitaLand has brought the Collective Works co-working space to its Capital Tower project in Singapore. In China, it has partnered with UrWork co-working space to integrate more co-working spaces in its malls in major cities such as Beijing, Shanghai, and Shengen. 

As VET reported earlier, CapitaLand Vietnam officially opened The Oxygen in Ho Chi Minh City on March 25.

“By taking advantage of the knowledge and experience accumulated from CapitaMall Asia and the CapitaLand Group in Singapore, The Oxygen will contribute more to the development of a consumer culture in District 2 and the surrounding areas,” Mr. Chen Lian Pang, CEO of CapitaLand Vietnam, said, adding that Vietnam has become one of CapitaLand’s key markets.

During the meeting with Prime Minister Phuc, the CapitaLand boss revealed a plan to ramp up its presence in Vietnam, with plans to acquire more sites for residential projects as well as developing a Raffles City project in Ho Chi Minh City.

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