Capitaland Goes Grade a in Vietnam

CapitaLand, one of Singapore’s leading property developers, has purchased a site to build its first international Grade A office tower in Ho Chi Minh, Vietnam.

CapitaLand Vietnam has acquired a 0.6-hectare site in District 1 to construct 1 240 metre high premium office facility and will utilise USD500 million fund it has dedicated to the Vietnam market.

“The acquisition and development of our first Grade A office tower in a prime location in Ho Chi Minh City, serves to diversify CapitaLand’s portfolio and strengthen our foothold in Vietnam,” said Lim Ming Yan, president and group CEO of CapitaLand in a company statement.

The tower will link to a planned metro station and will include retail units on the ground and basement levels.

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