CapitaLand Vietnam said today it has entered into a joint venture to develop a site in District 2 at Ho Chi Minh City for a project worth US$55 million ($7 million) with Thanh Nien Corporation’s subsidiary Saigon Commercial & Tourism Corporation.
CapitaLand will hold an 80% stake of the JV.
The new JV marks the developer's sixth residential project in Ho Chi Minh City, and its eighth in Vietnam.
In June, CapitaLand signed a JV with Thien Duc Trading-Construction Company to develop a $200 million, 1,000-unit project in the same district.
Its latest JV is located in an expatriate community Thao Dien ward, a 2 km from the new Metro line and a 10-minute drive from Thu Thiem Central Business District.
There are also plans to develop a one-hectare 350 units residential project, considering its proximity to malls, international schools, and cinemas.
CapitaLand sold 873 units and made $138.5 million in sales for the first nine months in 2015.
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CapitaLand will hold an 80% stake of the JV.
The new JV marks the developer's sixth residential project in Ho Chi Minh City, and its eighth in Vietnam.
In June, CapitaLand signed a JV with Thien Duc Trading-Construction Company to develop a $200 million, 1,000-unit project in the same district.
Its latest JV is located in an expatriate community Thao Dien ward, a 2 km from the new Metro line and a 10-minute drive from Thu Thiem Central Business District.
There are also plans to develop a one-hectare 350 units residential project, considering its proximity to malls, international schools, and cinemas.
CapitaLand sold 873 units and made $138.5 million in sales for the first nine months in 2015.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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