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CapitaLand will build Raffles City Complex in HCMC.

The prestigious Raffles City complex

This is information that was announced by Chairman and CEO of CapitaLand Group Lim Ming Yan after meeting with Prime Minister Nguyen Xuan Phuc and Minister of Planning and Investment Nguyen Chi Dung.

Raffles City is a well-known real estate complex developed by CapitaLand, in which Raffles City is located on Singapore’s iconic Orchard Road, an office complex, shopping mall, The seminar is quite familiar to Vietnamese tourists.

The prestigious Raffles City complex
The prestigious Raffles City complex will be built by CapitaLand in HCMC?

“We recognize that Ho Chi Minh City is a great place to build Raffles City, a well-known brand of the Group, built only in the heart of the city, , “Lim Ming Yan said.

Head of CapitaLand also said that the group is planning to invest more housing projects in Vietnam. “It is likely that we will have another 2,000 to 2,500 units this year and we will continue to seek investment opportunities in the field of office buildings, serviced apartments and complexes. With more than 9,000 homes and around 4,600 serviced apartments across Vietnam, this is CapitaLand’s key market, behind China and Singapore. “

In 2016, CapitaLand sold 1,480 apartments, generating sales of S $ 282 million. Total number of apartments increased by 12% and revenue increased by 25% compared to 2015.

CapitaLand’s subsidiary, The Ascott Limited, owns 22 serviced apartment buildings with approximately 4,600 apartments, spread across six provinces of Vietnam: Hanoi, Ha Long, Hai Phong and Da Nang. , Nha Trang and Ho Chi Minh City.

Ascott is planning to increase 7,000 serviced apartments in Vietnam by 2020 and in the near future will add another 3,000 serviced apartments in the near future.

By the end of December 2016, CapitaLand’s capitalization in Vietnam was $ 2.1 billion, raising Vietnam to become the third largest market in South East Asia by CapitaLand after Singapore and Malaysia.

On Friday this week, CapitaLand completed the rough construction and roofing of the Seasons Avenue project in Mo Lao New Urban Area, Ha Dong District, Hanoi with 1,300 apartments.

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