CapitaLand to build its 6th condo in Ho Chi Minh
It is also marketing residential units of two Vietnamese projects here for the first time following Vietnam's lifting of foreigner ownership curbs
Singapore
CAPITALAND Vietnam has entered into a joint venture with Saigon Commercial & Tourism Corporation, a subsidiary of Vietnamese developer Thanh Nien Corporation, to develop a prime site in District 2 in Ho Chi Minh City, for an estimated project value of US$55 million.
This will mark CapitaLand's sixth residential project in Ho Chi Minh City, and its eighth in the country. CapitaLand will hold an 80 per cent stake with Thanh Nien holding the balance stake in the joint venture. Pending regulatory approval, this deal comes soon after the joint venture CapitaLand formed with Thien Duc Trading-Construction Company in June to develop a S$200 million, 1,000-unit upscale project in District 2.
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