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CapitaLand Development to launch two luxury residences in Vietnam

By The Edge Singapore

/ EdgeProp Singapore |

November 8, 2021 10:48 AM SGT

Artist’s impression of Heritage West Lake (Credit: CapitaLand)

SINGAPORE (EDGPROP) - CapitaLand Development (CLD), the development arm of CapitaLand Group, has unveiled the designs of two upcoming luxury residential developments in Vietnam.

Read also: CapitaLand divests partial stakes in six Raffles City developments in China in $9.6 bil deal

The developments - Heritage West Lake in Hanoi and DEFINE in Ho Chi Minh City - are expected to be launched for sale in 1Q2022.

The 173-unit Heritage West Lake is CLD’s first luxury residential development in Hanoi. It also is the first residential development in the city to feature a private lift lobby for all units as well as a rooftop heated swimming pool.

In addition, it is Hanoi’s first residential development to receive Singapore’s Building Authority & Construction (BCA)’s Green Mark Award.

The 88-unit DEFINE is located in Thu Duc City in Ho Chi Minh City. Notable features include the first automated smart car parking system in Vietnam. It is also a green-certified development, receiving the Green Mark Gold accolade by BCA.

Speaking at the groundbreaking ceremony for DEFINE, Ronald Tay, CEO of CLD (Vietnam), says that the company, which entered Vietnam over 25 years ago, continues to see strong demand for live-work-play spaces driven by rapid urbanisation. “With Heritage West Lake and DEFINE, we are setting new benchmarks in creating not just luxurious, but also sustainable developments to enrich the lives of our residents,” he remarks.

Tay also notes that Vietnam remains one of the core markets for CLD. “CLD remains bullish on long-term prospects for Vietnam, and we are looking to expand our presence across the country, including new economy assets such as logistics facilities, data centres or business parks. We are also working with local partners and government authorities to explore master planning and urban development opportunities to deepen our multi-sector real estate presence in Vietnam,” he explains.

With the addition of Heritage West Lake and DEFINE, CLD’s residential portfolio in Vietnam will expand to over 7,300 units across 14 developments.

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