CapitaLand plans more investments in Vietnam

Singapore

PROPERTY developer CapitaLand wants to "significantly increase" its S$2.1 billion presence in Vietnam and may build a Raffles City integrated project there, it said in a press release on Monday evening.

Lim Ming Yan, CapitaLand's president and group chief executive officer, said in the statement that the group plans to buy more sites in Vietnam to build homes, "possibly yielding 2,000 to 2,500 units this year". It also wants to invest in offices, serviced residences and integrated developments there and could potentially build a Raffles City there, he said.