Capitavalue homes, khang dien to rise homes in vietnam

CapitaValue Homes, Khang Dien to rise homes in VietnamBy Jo-ann Huang| Posted: 10 May 2011 2115 hrs

         

SINGAPORE : CapitaValue Homes, a wholly-owned auxiliary of CapitaLand Group, has sealed a corner try agreement with Vietnamese skill developers Khang Dien Sai Gon Real Estate to set up 975 worth homes upon a twenty-nine, 000 block metre site in Ho Chi Minh City, Vietnam.

The sum plan price is estimated to be US$ 70 million or S$ 88 million as good as will grown by a corner try association set up by both CapitaValue Homes as good as Khang Dien.

Upon capitulation of a corner try association, CapitaValue Homes will reason a 70 per cent interest whilst Khang Dien will reason a thirty per cent interest of a company.

The plan is located in a determined residential site of Binh Trung Dong Ward, about 9 kilometres or twenty mins divided from Ho Chi Minh City’s Central Business District.

It is tighten to a arriving Ho Chi Minh-Long Thanh Highway, as good as a Saigon Sports City as good as Saigon Golf Mixed-use Development projects.

This is a third worth housing plan in Middle East for CapitaValue Homes, bringing a sum tube in Middle East to 35, 000 units.

CapitaValue Home’s alternative projects have been located in District 9, Ho Chi Minh City as good as Wuhan in Hubei Province, China.

This is additionally CapitaLand’s sixth residential plan in Vietnam, bringing a Vietnamese skill portfolio to a sum of 5, 500 units.

Liew Mun Leong, CEO of CapitaLand, pronounced which with a plan, CapitaValue Homes is upon lane to set up 10, 000 to fifteen, 000 worth homes in China as good as Vietnam any year over a subsequent 3 to 5 years.

- CNA/ms