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Vietnam Today

PM meets CapitaLand President & CEO

Released at: 18:01, 28/03/2017

PM meets CapitaLand President & CEO

Photo: VGP

Reception held for President and CEO of Singaporean real estate developer.

by Ngoc Lan

The President and CEO of Singapore’s CapitaLand met with Prime Minister Nguyen Xuan Phuc and confirmed the real estate developer’s commitment to building new urban developments in Vietnam.

At a reception for President and CEO Lim Ming Yan held in Hanoi on March 27, PM Phuc expressed his appreciation of CapitaLand’s investment and hoped it would consider developing new urban projects given the rising demand.

He also suggested CapitaLand implement green, clean and beautiful urban projects in Vietnam like those it carried out successfully elsewhere in Asia, to help the country realize its sustainable development goals and stabilize its real estate market.

Mr. Yan said that CapitaLand has invested in many great projects in Vietnam over the last 22 years and plans to build new urban developments in Hanoi and Ho Chi Minh City. “Ho Chi Minh City is a great place to build Raffles City, which will contribute to Vietnam’s urbanization process,” he added.

CapitaLand currently has $1.5 billion in total assets invested in Vietnam, including 22 serviced apartment buildings, nine residential projects, and a high-end commercial complex.

The PM hopes the group will have even more success in Vietnam and contribute to its socioeconomic development. “CapitaLand’s projects in Vietnam are always connected to the community and ensure social responsibility with smart control systems for sustainable development,” he noted.

“CapitaLand now has more than 9,000 units and around 4,600 serviced apartments in Vietnam, including in Hanoi, Ho Chi Minh City, Nha Trang, Da Nang, Hai Phong, and Ha Long city,” said Mr. Yan. “Vietnam is CapitaLand’s key market, followed by China and Singapore.”

It plans to invest in more projects in Vietnam. It will add 2,000 to 2,500 units in the residential segment this year and will continue to seek investment opportunities in office buildings, serviced apartments, and large complexes.

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