Artist’s impression of Seasons Avenue. Source: CapitaLand
CapitaLand, one of Asia’s largest developers, is showcasing its latest Hanoi project to Singaporean investors on Sunday (5 June).
The company hopes to take advantage of keen interest in Vietnam’s property market, which relaxed foreign ownership laws in July last year.
Dubbed Seasons Avenue, the 1,300-unit residential development comprises four towers, and is expected to be completed in mid-2018.
Around 40 units in one of the towers will be released to buyers tomorrow, including two- and three-bedroom apartments with sizes ranging from approximately 775 sq ft to 1,195 sq ft. Prices of these units range from $170,000 to $270,000.
Located in Hanoi’s new downtown, the project is close to a metro line, hospital and universities.
“As at end March 2016, 65 percent of the launched units at Seasons Avenue have been sold, and we are confident the project will be well-received by Singapore investors too,” said Chen Lian Pang, CEO of CapitaLand Vietnam.
Last November, CapitaLand launched two condominiums in Ho Chi Minh City to buyers here. To date, The Vista and Vista Verde projects have sold more than 120 units.
According to Chen, “the real estate market in Vietnam is supported by the country’s strong economic growth, rapid urbanisation, and a young and growing population”.
Vietnam is one of CapitaLand’s key markets in Asia. The group has a portfolio of about 7,850 units across eight residential projects in Ho Chi Minh City and Hanoi, and is looking to expand further in the country.
CapitaLand’s preview of Seasons Avenue will run from 11am to 6pm at CT Hub in Kallang Avenue.
Romesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories, email romesh@propertyguru.com.sg
