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CapitaLand sets up its second commercial fund in Vietnam

02 March 18 - RE+D Magazine
CapitaLand sets up its second commercial fund in Vietnam

COMPANIES

PEOPLE

Stepping up growth momentum in one of its key markets, CapitaLand Limited has acquired a prime site for its first integrated development in Vietnam’s capital city, Hanoi, and successfully set up its second commercial fund in the country, CapitaLand Vietnam Commercial Value-Added Fund (CVCVF), which has closed at US$130 million (approximately S$171 million).

 

With a fund life span of eight years, CapitaLand will hold a 50% stake in CVCVF with the balance interest held by MEA Commercial Holdings Pte. Ltd.

CVCVF will focus on Grade A commercial properties in Vietnam. 

Located in Hanoi’s exclusive Tay Ho district with unblocked views of the scenic West Lake, the upcoming 25-storey integrated development worth about US$217 million1 (approximately S$285 million) will comprise a 380-unit residence including SoHo apartments, around 230,000 square feet (sq ft) of office space and over 208,000 sq ft of retail space.

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