CapitaLand - Hien Duc revealed about the partnership at the Westlake project in Hanoi

At present, much information sourced from the foreign press has been revealed about the project, whilst there has been no official confirmation from the representatives of Vietnam. Could you talk more about this deal?

Mr Lim Teng-Kiat (Representative of CapitaLand North Vietnam Region)

“We are very excited to co-operate with a reputable partner like Hien Duc and consider the opportunity to jointly invest in the project company as a starting point towards long-term co-operation between the two businesses. We have invested in the project company named CapitaLand - Hien Duc by means of acquiring the controlling interests in the company to jointly develop the land of 0.9-hectare, beautifully located adjacent to the West Lake. Everything is being done smoothly.”
   
Mr Le Ngoc Hien (Representative of Hien Duc Joint Stock Company)

“As for Hien Duc Joint Stock Company, we are eagerly looking forward to the success of this project and are working closely with our partner to combine our understanding of local market needs with the partner’s strength in the design and implementation of the project.”
How do you assess the potential of the project?

Mr Lim Teng-Kiat (Representative of CapitaLand North Vietnam Region)

“Using CapitaLand’s extensive experience in property development, we expect to develop this area into a 25-storey building complex which is made up of high-class apartments, OfficeTels, offices and commercial and service facilities.

We will introduce the elegant lifestyle from the world’s most luxurious cities to the Hanoi market through innovative design, perfect service quality, advanced technology and a reflection of international standards. Advantageously located right next to the West Lake, the project is designed to enable most of the apartment owners to enjoy the stunning lake view whilst maintaining the highest privacy and security standards.”

Mr Le Ngoc Hien (Representative of Hien Duc Joint Stock Company)

“The new project is developed on a 0.9-hectare land plot at a strategic location linking two major trade and financial centres of Hanoi, being just a 20 minute’ drive to Noi Bai International Airport, adjacent to the diplomatic corps area and the new head office of the state agencies as well as famous international schools. Moreover, with the spectacular West Lake view, the project will make a special attraction to customers. Some apartments will have a view of both West Lake and Red River.”

What are your expectations in this co-operation?

Mr Lim Teng-Kiat (Representative of CapitaLand North Vietnam Region)

“Co-operation is the key to the success of CapitaLand’s various projects in Vietnam by leveraging on local partners’ market insights. As a foreign investor, we are always seeking reliable local partners with a good understanding of the market and potential for growth. Fueled by CapitaLand’s international expertise and experience in project development, we are confident we can launch a unique product to the Vietnamese market.”

Mr Le Ngoc Hien (Representative of Hien Duc Joint Stock Company)

“Within the scope of this co-operation between Hien Duc and CapitaLand, the latter will bring into full play its financial strength, design capability and international property development project development experience, whilst Hien Duc will act as a guiding supporter for our partner in understanding the needs, the Vietnamese culture and the property market in Hanoi.”

The last question is for CapitaLand Vietnam representative, what is CapitaLand’s plan for future development in the Vietnamese market?

Mr Lim Teng-Kiat (Representative of CapitaLand North Vietnam Region)

“CapitaLand is one of the World’s largest property corporations, with our presence in 150 cities in 30 countries around the World. Vietnam is CapitaLand’s third largest market in Southeast Asia, following Singapore and Malaysia. CapitaLand’s portfolio in Vietnam currently consists of nine housing development projects, a Grade A complex and 21 serviced apartment building projects with approximately 4,600 apartments invested and managed in six cities across Vietnam.

The year 2017 marked our amazing growth in Vietnam with the highest sales ever achieved at 1,409 apartments sold, reaching record revenue of S$ 459.6 million, surpassing last year’s revenue by S$ 282.1, an increase of 63%. Our latest apartment building project, d'Edge Thao Dien in Ho Chi Minh City, has been sold out in fewer than two months. Advantageously located near the lake, close to the new administrative headquarters with convenient traffic, it is believed that the upcoming project will be as successful as d'Edge Thao Dien.

CapitaLand has continued building our brand in Vietnam for over 20 years and is expected to further provide high-quality new projects in the coming years. We always desire to introduce state-of-the-art and best forms from all over the world to the Vietnamese market. As a long-term investor, in Viet Nam, we firmly believe in the potential of the industry in the foreseeable future.

Thank you, Sirs!”