CapitaLand's unit buys 18.9ha residential project from Becamex IDC

The multidisciplinary corporation Becamex IDC has received approval from the People's Committee of Binh Duong Province to transfer the entire New Urban Area project with an area of 18.9 hectares to Sycamore Company.

The transferee, CapitaLand, announced the signing with Becamex IDC in the closing days of 2021 by obtaining and developing a possible land fund for construction. Vietnam's first large-scale housing project for the group.

This project is known as Sycamore Capitaland, and it consists of 7 subdivisions: 1 semi-detached shophouse subdivision and townhouse; 1 villa subdivision; 4 24-story apartment subdivisions; and 1 10-story apartment complex. Total project investment is about VND18,300 billion.

CapitaLand recently acquired a portion of the Vinhomes Smart City project located in the Nam Tu Liem district of Hanoi, specifically in Tay Mo ward and Dai Mo ward.

After the successful acquisition, CapitaLand announced a luxury apartment project called Lumi Hanoi, with a total investment of more than 1 billion Singapore dollars (VND18,000 billion). With a total land area of nearly 5.6 hectares, the project is expected to start construction in the first quarter of 2024.

Lumi Hanoi is deployed in several phases, providing about 4,000 apartments in 9 towers from 29 to 35 floors. There are many types of apartments, from one-bedroom 42m2 to four-bedroom 135m2. Duplex and penthouse apartments with areas ranging from 115m2 m2 410m2 will also be integrated in the project.

CapitaLand began operating in Vietnam in 1994 and built a strong foothold in the market with a diverse investment portfolio including 1 retail area, 1 Soho model project - a product line that combines culture and culture. office and rest rooms, 2 complex projects and more than 16,000 apartments in 17 housing projects.