CapitaLand acquires stake in Vietnamese firm for S$7 million

Subsidiary CapitaValue Homes will lead the development of an approximately 9,000-square metre piece of land in Ho Chi Minh City.

CVH Sparkle Pte. Ltd., a wholly-owned subsidiary of CapitaValue Homes Limited, has acquired 65% stake in Quoc Cuong Sai Gon Company Limited (QCSG). The abovementioned piece of land is owned by QCSG, and the company intends to develop it into approximately 800 value homes.

The development, estimated to be approximately S$54.9 million, will be CapitaValue Homes’ fourth value homes project.

Overall in Vietnam, CapitaLand has a residential portfolio of over 6,400 units across seven residential developments in Ho Chi Minh City and Hanoi.

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