CapitaLand Limited, a Singapore-based firm, has held a $130 million close on its second commercial fund in Vietnam, CapitaLand Vietnam Commercial Value-Added Fund (CVCVF).
With a fund life span of eight years, CapitaLand will hold a 50 percent stake in CVCVF, with the balance interest held by MEA Commercial Holdings Pte. Ltd. CVCVF will focus on grade A commercial properties in Vietnam.
CapitaLand Limited also acquired a prime site for its first integrated development in Vietnam’s capital city, Hanoi.
Located in Hanoi’s exclusive Tay Ho district with unblocked views of the scenic West Lake, the upcoming 25-story integrated development worth about $217 million will comprise a 380-unit residence, including SoHo apartments, around 230,000 square feet of office space and more than 208,000 square feet of retail space.
“This mixed-use development allows us to strategically diversify and optimize our Vietnam portfolio with both good trading returns and a
