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CapitaLand in 7th housing project in Vietnam

The property giant has an 80% stake in a joint venture with Thien Duc to develop a high-end residential project

Kalpana Rashiwala

Published Tue, Sep 15, 2015 · 09:50 PM

Singapore

ANNOUNCING its seventh residential project in Vietnam, CapitaLand said on Tuesday that its fully-owned unit CapitaLand (Vietnam) Holdings has entered into an 80:20 joint venture with Thien Duc Trading-Construction Company to develop a site in Ho Chi Minh City's District 2.

As the lead development manager, CapitaLand plans to develop the 2.6-hectare site into a high-end residential project with about 1,000 homes. The development will have an estimated total project value of US$150 million.