These launches follow other notable residential launches in Vietnam by CDL in recent years, such as the 88-unit Define in Thu Duc City, Ho Chi Minh City, which was fully booked in less than two hours upon launch. These unites were priced at above US$1 million ($1.34 million), setting a new price benchmark for the vicinity.
CapitaLand Development (CLD), the development arm of CapitaLand Group, is targeting to grow its residential portfolio in Vietnam to 27,000 units by 2028. This was announced at the groundbreaking ceremonies for CLD’s latest residential projects Sycamore in Binh Duong province and Lumi Hanoi in Hanoi, which took place on Feb 28 and Mar 1, respectively.
The five-year target is about 70% higher than CLD’s current residential portfolio in Vietnam numbering about 16,000 units, which include the approximately 7,500 units of Sycamore and Lumi Hanoi.
