CapitaLand eyeing more projects in Vietnam

Singapore

AMID strong recovery in the Vietnamese property market, CapitaLand Limited is exploring mixed developments and office assets in Vietnam over the next few years.

CapitaLand Vietnam CEO Chen Lian Pang said the group hopes some of these opportunities will materialise next year and beyond.

"For the bigger mixed-development projects, we will bring in capital partners either through funds or joint venture arrangements," Mr Chen told The Business Times in an interview.

"We have something in the pipeline," he said. "Once we get the project, if it is sizeable enough, we may inject it into a fund to be managed by another business unit CapitaLand Financial Limited (CFL)."

If a second fund materialises, it will be CapitaLand's second Vietnam-focused fund, following the first US$200 million Vietnam Joint Venture fund set up with Mitsubishi Estate Asia and GIC Real Estate in November 2010. The first fund was formed to invest primarily in residential development projects in Vietnam with a focus on key gateway cities …