Capitaland, Thanh Nien Enter JV

CapitaLand Vietnam has entered into a joint venture (JV) with Saigon Commercial & Tourism Corporation, a subsidiary of Thanh Nien Corporation, to develop a prime site in District 2, Ho Chi Minh City, for an estimated value of $55 million.

The 1-hectare residential project is located in Thao Dien ward just 2 km from the new Metro line, a 10-minute drive to the future Thu Thiem Central Business District (CBD) in District 2 and a 15-minute drive to the existing CBD in District 1.

The completed development will have approximately 350 units and be close to lifestyle amenities. It will bring CapitaLand’s residential portfolio in Vietnam to 7,850 homes.

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