Jubilant groundbreaking ceremony
On March 1st, CapitaLand Development (CLD) Vietnam commenced the Lumi Hanoi project in the Tây Mỗ ward, Nam Từ Liêm district, Hanoi. The project is situated in a prime location, with two facades facing Thăng Long Boulevard and the Ring Road 3.5. The project overlooks three major urban areas: Vinhomes Smart City, Nam An Khánh, and Mailand (formerly known as Bắc An Khánh). The Lumi Hanoi project is being carried out in multiple phases, aiming to deliver approximately 4,000 apartments spread across 9 towers ranging from 29 to 35 floors.
CapitaLand breaks ground on huge residential compound in Hanoi
Speaking at the groundbreaking ceremony, Mr. Ronald Tay, CEO of CapitaLand Development, emphasized that Vietnam is one of CLD’s key markets. “We will enhance our presence in Vietnam, with an overarching strategy to develop Vietnam into one of CLD’s main markets.”
“The group will focus on large-scale projects with convenient locations in key markets such as Hanoi, Ho Chi Minh City, and surrounding provinces. We aim to diversify our portfolio through new models in the future, such as industrial parks and logistics zones,” said the CEO of CapitaLand Development.
Lumi Hanoi – Luxury real estate in western Hanoi
Lumi Hanoi – The signatures
The high-end apartment project named Lumi Hanoi will be developed on a 5.6-hectare plot of land. This land was originally part of the Tây Mỗ – Đại Mỗ new urban area project (also known as Vinhomes Smart City), which was separated from the project at the end of 2021 through Decision No. 4234 of the Hanoi City People’s Committee.
According to CapitaLand, the project will be implemented in multiple phases, with plans to provide approximately 4,000 apartments across 9 towers ranging from 29 to 35 floors. There are various types of apartments, ranging from 42m² one-bedroom units to 135m² four-bedroom units. Duplex and penthouse units ranging from 115m² to 410m² will also be integrated into the project.
This is CapitaLand’s fifth project in the Hanoi market. Previously, the group has made its mark on projects such as Mulberry Lane, Season Avenue, Capital Place, and Heritage West Lake. Among them, Capital Place was sold by CapitaLand to another entity.
As per the plan for 2024, CapitaLand aims to launch Phase I of the Sycamore project in the second quarter. This project covers nearly 20 hectares and includes approximately 3,700 units comprising detached villas, semi-detached villas, townhouses, and apartments developed in low-rise, mid-rise, and high-rise sectors invested in the Binh Duong province.
CapitaLand – a reliable developer in the luxury real estate segment
CapitaLand Development (Vietnam) is the real estate development arm of CapitaLand Group, with an investment portfolio valued at approximately SGD 20.8 billion as of September 30, 2023. CLD possesses extensive capabilities in developing diverse asset classes, including integrated developments, retail spaces, integrated office parks, residential and housing developments, commercial areas, industrial parks, logistics facilities, and data centers.
CLD (Vietnam) oversees and develops investment and development activities in Vietnam, one of CLD’s core markets where the group has established a wide-ranging presence over 30 years. CLD’s investment portfolio in Vietnam includes one retail center, one SOHO (Small Office Home Office) model project, two mixed-use developments, and over 16,000 quality apartments across 17 residential projects in Hanoi and Ho Chi Minh City.
Successful journey of CapitaLand in Vietnam
