Singapore’s CapitaLand has paid US$ 4.65 million for an additional 10 percent of the shares in its joint-venture CapitaLand Vista Joint Venture Company Limited.
Prior to the trade CapitaLand held 80 percent in the company.
CapitaLandVista has already completed a mixed-use development, The Vista (pictured), which comprises residential and commercial components in Ho Chi Minh City. The 750 residential units have seen sales of more than 90 percent, with the rest being units for long term lease that have recently been released.
The 35,000 sqm of the commercial component comprises a retail podium, office space and 100 units of Somerset Serviced Residences.
This latest acquisition results is consistent with CapitaLand strategy to build up its recurring income portfolio in Vietnam.