CapitaLand to develop $800m low-rise residential project in Hưng Yên

Artist’s impression of The Fullton, CLD’s first low-rise project in Hưng Yên Province. – Photos courtesy of CapitaLand Development HƯNG YÊN – CapitaLand Development is set to develop The Fullton, a low-rise residential project in the northern province of Hưng Yên.With a total projected development value of around US$800 million, The Fullton marks the Singaporean developer’s first low-rise undertaking in Hưng Yên and increases its total residential portfolio in Việt Nam to over 19,000 units across 19 projects.Tan Wee Hsien, CEO of CLD Vietnam and International, said: “The Fullton aligns with our goal to scale up CLD’s operations in Việt Nam, with a target of 30,000 residential units by 2029. “This project will enhance our residential portfolio, expanding our presence in a key location with excellent growth potential. “The Fullton is a key milestone in CLD’s long-term strategy for the Vietnamese market. With our full-spectrum expertise across the real estate value chain, CLD is committed to transforming The Fullton into a landmark development that will redefine the residential landscape in Greater Hanoi. “We look forward to exploring new investment opportunities and contributing to Việt Nam’s continued growth.”The Fullton occupies a strategic location just east of Hà Nội, providing convenient access to the northern key economic region via major transportation corridors such as National Highway 5A, Ring Road 3.5, the Hà Nội – Hải Phòng Expressway, Ngọc Hồi Bridge, and Trần Hưng Đạo Street (anticipated commencement in 2025). The 25-ha project will be executed in two phases. The first, covering 12ha, will deliver 342 residential units by 2026, and the second, spanning 13ha, will add approximately 350 units by 2027.The development will offer an attractive mix of residential properties, including shophouses, cluster villas, garden villas, and single villas. In another development, CapitaLand Development said it has received 98 per cent bookings during the exclusive preview of Orchard Heights, the thirst phase of the Sycamore. This marks a strong start to the year for CLD in Việt Nam following the impressive performance of the first two phases of the Sycamore, with 99 per cent of units at Orchard Hill and nearly 90 per cent of units at The Orchard already booked, the company said. Deal with Vinhomes Jonathan Yap, CEO of CLD (centre) and Phạm Nhật Vượng, founder and chairman of Vingroup Joint Stock Company (Vingroup) (fifth from left), and other representatives from CLD and Vingroup at the signing of the Memorandum of Understanding (MoU). In another development, CapitaLand Development (CLD) has signed a strategic agreement with Vinhomes Joint Stock Company, Việt Nam’s leading real estate developer, to create sustainable, long-term value in Việt Nam’s booming real estate market. The partnership marks a pivotal milestone, solidifying the collaboration between two regional real estate developers. The agreement sets the stage for future joint ventures in large-scale urban developments.CLD’s successful track record within Vinhomes' townships, including projects such as Lumi Hanoi in Vinhomes Smart City and The Senique Hanoi in Vinhomes Ocean Park, lays a solid foundation for continued collaboration.Tan Wee Hsien, CEO of CLD Vietnam and International, said about the partnership: “Việt Nam is a core market for CLD alongside Singapore and China. “Through this partnership with Vinhomes, we aim to more than double our capital investment in the country over the next five years." VNS