CapitaLand Development enters into strategic cooperation with Vingroup to expand its scale in Vietnam

CapitaLand Development (CLD) officially announced two important steps in its development strategy in Vietnam: Signing a strategic cooperation agreement with Vinhomes Joint Stock Company (Vinhomes - Stock code: VHM), a leading real estate developer in Vietnam, and launching The Fullton, a low-rise housing project in Hung Yen province with a total development value estimated at 800 million USD.

The cooperation agreement between CLD and Vinhomes marks an important milestone in the relationship between the two leading prestigious real estate developers. Thereby, it creates the premise for joint ventures to develop large-scale projects, contributing to creating sustainable values ​​for the Vietnamese real estate market. The success of CLD's previous projects in Vinhomes urban areas such as Lumi Hanoi at Vinhomes Smart City and The Senique Hanoi at Vinhomes Ocean Park is a solid foundation for more comprehensive and extensive cooperation.

The signing ceremony of the Memorandum of Understanding was attended by Mr. Jonathan Yap - General Director of CLD (middle), Mr. Pham Nhat Vuong - Chairman of Vingroup (fifth from left), and leaders of both sides.

Sharing about the cooperation relationship, Mr. Tan Wee Hsien, General Director of CLD Vietnam and International said: “ Vietnam is one of CLD’s key markets, besides Singapore and China. Through the cooperation strategy with Vinhomes, we expect to more than double our investment capital in this market within the next five years.

Vinhomes’ in-depth understanding of the market, along with CLD’s comprehensive capabilities in design, development and asset management, will help strengthen the position of the parties on the journey to contribute to the development of the Vietnamese real estate market .”

Ms. Nguyen Dieu Linh, Vice President of Vingroup Corporation, Member of the Board of Directors of Vinhomes Joint Stock Company said: “ The strategic cooperation with CapitaLand Development, one of the leading real estate corporations in Asia, marks an important step in Vinhomes' development journey.

This is also a testament to our commitment to building the most livable and classy urban areas in Vietnam, bringing a better life to the community. In the coming time, Vinhomes and CapitaLand Development will cooperate to develop urban areas according to international standards, creating ideal and luxurious living spaces, contributing to building a civilized, modern and prosperous community of residents nationwide .

Expanding housing portfolio with The Fullton project in Hung Yen province

CLD is expanding its residential real estate portfolio in Vietnam with the low-rise project The Fullton located at Vinhomes Ocean Park 3, Hung Yen province, adjacent to Hanoi . With a total project development value of approximately USD 800 million, The Fullton is CLD's first low-rise project in Hung Yen province, bringing CLD's total housing development portfolio in Vietnam to more than 19,000 units in 19 projects.

Perspective of The Fullton, CLD's first low-rise project in Hung Yen province

The Fullton owns a strategic location right in the East of Hanoi, easily connecting to the key economic region of the North through major traffic routes such as National Highway 5A, Ring Road 3.5, Hanoi - Hai Phong Expressway, Ngoc Hoi Bridge, Tran Hung Dao (expected to start construction in 2025). The project will provide a variety of housing types including: commercial townhouses (shophouses), cluster villas, garden villas and single villas. The project is designed according to a closed community model, ensuring high standards of security and privacy, while creating a standard living space for future residents.

Mr. Tan Wee Hsien, General Director of CLD Vietnam and International, added: “ The Fullton is a strategic step in CLD’s commitment to expand its operations, aiming to reach 30,000 apartments and houses in Vietnam by 2029. In addition to contributing to improving the quality housing portfolio nationwide, the project also marks an important milestone in the Group’s long-term development journey in this market.

With comprehensive capabilities in the real estate value chain, we are confident that The Fullton will become an iconic project, contributing to shaping new living standards in areas adjacent to the capital. We expect to have more potential investment opportunities to contribute to the development of Vietnam .

Hung Yen is becoming a bright spot in urban development, with the urbanization rate expected to increase from 41.2% in 2020 to 60-65% in 2030. The province's population in 2024 will reach about 1.32 million people, reflecting the increasing demand for housing. Thanks to its strategic location and synchronous transport infrastructure, The Fullton has the advantage to take the lead in the vibrant development of the region.

The project covers an area of ​​25 hectares and is developed in two phases. Phase 1 will be implemented on an area of ​​12 hectares with 342 units, expected to be handed over in 2026; Phase 2 will include about 350 units on an area of ​​13 hectares and will be completed in 2027.

The Fullton promises to bring a modern, convenient lifestyle in harmony with nature. The focal point of the project is the 1.9ha central park, where a series of high-class amenities converge such as a clubhouse, 50m swimming pool, outdoor jacuzzi, gym, party room, playground, shared working area and separate reading room.

In addition, The Fullton also has a family-friendly utility system such as children's playgrounds, skateboarding areas, maze gardens, sandbanks, internal running tracks combined with outdoor sports stations, multi-purpose sports fields and pickleball courts. Residents can also enjoy quiet moments to practice yoga, meditate and relax in the maze garden on the project campus.

Inspired by the image of terraced fields, a typical cultural feature of the highlands of Vietnam, The Fullton's design integrates residential areas in a cool green space, creating a harmonious and peaceful living environment. The project offers a variety of housing types, meeting the diverse needs of customers, from urban residents to families looking for a spacious and peaceful place to live.

About Vinhomes:

Vinhomes is the number 1 real estate investment, trading and management company in Vietnam with scale, development speed and high-class service quality, leading the Vietnamese real estate market to develop sustainably, reaching international standards.

The pioneering company brings an ideal living experience in the heart of the city with professionally planned urban areas, synchronous service facilities, and a clean green environment, helping to shape a new lifestyle for Vietnamese people. With a diverse product line, Vinhomes' projects always fully meet the needs of customers and investors.

Vinhomes has developed and managed 30 urban areas nationwide, concentrated in Hanoi, Ho Chi Minh City, Hai Phong,... and continues to expand to other localities.

About CapitaLand Development (Vietnam):

CapitaLand Development (CLD) is the real estate development arm of CapitaLand Group, with a portfolio worth approximately S$21.5 billion as at 31 March 2025. CLD has extensive capabilities to develop diverse asset classes, including integrated developments, retail, office, residential, business park, industrial, logistics and data centres.

CLD (Vietnam) oversees and develops CLD's investment and development business in Vietnam, one of CLD's core markets where the Group has built an extensive presence for over 30 years.

CLD’s portfolio in Vietnam includes 1 SOHO project – a product line that harmoniously combines office and leisure, 2 complex projects and more than 19,000 quality apartments in 19 residential projects. With strong expertise in master planning, land planning and project development, the unit has won many prestigious awards including the Asia Pacific Property Awards, PropertyGuru Asia Property Awards, PropertyGuru Vietnam Property Awards and the Golden Dragon Awards.

Going beyond the goal of developing real estate projects, CLD aspires to become a trusted real estate developer, contributing to beautifying life and elevating the community. The company is committed to continuing to create quality working, living and playing spaces for the community, through sustainable and innovative solutions.

In line with the Group's development philosophy, CLD places sustainability at the core of its business activities. CLD accompanies the Group through activities that contribute to environmental issues and social welfare of communities in countries where the Group is present, in order to bring long-term economic value to stakeholders.

Source: https://congthuong.vn/capitaland-development-hop-tac-chien-luoc-cung-vingroup-mo-rong-quy-mo-tai-viet-nam-386303.html