CapitaLand Development’s Lumi Hanoi achieves 99% sales
With this project, the developer’s portfolio in Vietnam now stands at more than 18,000 quality homes across 18 developments
THE consortium behind Lumi Hanoi has sold 3,921 out of 3,950 units or 99 per cent of the entire residential project since sales started in April, with two- and three-bedroom units being sold out.
Some 678 out of 697 units were sold at the third and final launch that took place on Oct 5. This came after more than 3,100 units were sold at the phase one and two launches, said CapitaLand Development (CLD) in a news release on Monday (Oct 14).
Developed by CLD, Mitsubishi Estate and Far East Organization, Lumi Hanoi features a variety of unit types, ranging from 42 square metres (sq m) for a one-bedroom unit to a 135 sq m four-bedroom unit. It also comprises duplex units and penthouses ranging from 115 sq m to 410 sq m in size.
The units are spread across nine towers that are 29 to 35 storeys high.
The high-end residential project was priced at an average of about US$2,800 per sq m, said CLD in an e-mail response to The Business Times. It added that the one- and four-bedders are also “in high demand and close to sell-out”.
The development is located in western Hanoi, Vietnam, and boasts a variety of amenities including parks, schools, shopping malls and medical centres. It is a 20-minute drive from Hanoi’s central business district and a 40-minute drive from the Noi Bai International Airport.
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CLD also said that in the future, connectivity will be further improved when the metro lines 5, 6 and 7 begin operations.
Lumi Hanoi is part of CLD’s plan to introduce 11,000 residential units in the next five years. In March this year, the group said it plans to grow its residential portfolio in Vietnam to 27,000 units by 2028.
With the inclusion of Lumi Hanoi, CLD’s portfolio in the country now stands at more than 18,000 quality homes across 18 developments.
Additionally, CLD also said it is making “significant strides” in Sycamore, its other residential project in the southern province of Binh Duong New City.
In August, the group unveiled twin high-rise towers Orchard Hill with 774 units as the second phase of the project. It ranges from one-bedroom units starting from 56 sq m to three-bedroom units of up to 112 sq m. The development also includes duplex and penthouse options.
Orchard Hill is slated for launch in the fourth quarter of 2024, with completion targeted for Q4 2026.
Ronald Tay, chief executive of CLD (Vietnam), said the group will continue to pursue long-term investment opportunities in both residential and commercial sectors. Following the robust demand observed at the Lumi Hanoi, CLD also said it is set to break ground on another residential project, The Senique Hanoi, in mid-October.
Located in eastern Hanoi, the 2,150-units project has an estimated total gross development value of more than S$600 million.
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