CapitaLand launched a new project in District 4, with 870 apartments

It is expected in the second half of Q2 / 2011, CapitaLand Group will start construction of its newest apartment project in District 4 called Summer Residences.

Overview of the Summer Residences project

It is known that Summer Residences is the 11th residential project deployed in Vietnam and is the 9th housing project in Ho Chi Minh City of CapitaLand. The project will be 1.45ha in size, located in front of Ton That Thuyet Street, District 4 (address 1 Ton That Thuyet, Ward 1, District 4). The total number of apartments of the Summer Residences project is 870 and the total investment capital of the project is up to $ 177 million.

According to Realestatevietnam, Summer Residences is quite beautiful, with the intermittent distance between District 1 and District 7, with the distance between these two areas only 5 minutes by motorbike. The project has a panoramic view of the Saigon River – the Kenh River. In addition, with a direct view of the river, the Summer Residences promises to provide residents with an ideal living and working environment. Thanks to the favorable position with the brand name CapitaLand, the estimated price of the Summer Residences apartment is likely to be between $ 3,000 and $ 4,000/sqm.

Location of the project Summer Residences District 4

CapitaLand owns the full rights to the Summer Residences project

According to some sources, Cuu Long Apartment is located at No. 1 Ton That Thuyet Street, formerly managed by Saigon Cuu Long Production Investment Joint Stock Company. It is a member company of Liksin Industrial Printing – Packaging – General Limited Company (Liksin Corporation). Later, this land was contributed to the implementation of the Cuu Long Apartment project and was approved by the People’s Committee of HCM City in February 2017.

On July 18, 2017, Viet Hung Phu Company was approved by the People’s Committee of HCMC to buy back the Cuu Long apartment project from Saigon Cuu Long Investment and Production Joint Stock Company.

Later, on November 10 2017, CapitaLand Group officially completed the acquisition of 100% shares of Viet Hung Phu Real Estate Investment and Trading Joint Stock Company to acquire ownership and develop the project.

Perspective of the project Summer Residences

This latest acquisition stems from a year of revenue growth from CapitaLand’s housing projects in Vietnam. In particular, the latest residential development, d’Edge Thao Dien, which was launched in July, has sold nearly 100% of the 273 apartments.

Vietnam is CapitaLand’s third largest market in Southeast Asia after Singapore and Malaysia. By the end of September 2017, the value of the company’s assets in Vietnam had reached $ 2 billion. With this latest M & A deal, CapitaLand has expanded its portfolio to 11 housing projects and 21 serviced apartment projects and one international standard Grade A office project in Vietnam. 2017 marks a year of CapitaLand growth in Vietnam with sales of homes through September to reach the highest level and nearly 50% higher than in 2016.

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