CapitaLand unveils 2,150-unit high-end residential project in east of Hanoi

CapitaLand Development (CLD), the development arm of Singapore-headquartered CapitaLand Group, has announced the development of The Senique Hanoi, a high-end residential project in Hanoi.

The complex, located on a prime site in the east of the capital city, has a projected total gross development value of over SDG600 million ($455.5 million).

This follows the successful launch of Lumi Hanoi’s Phase 1 and Phase 2 in Tay Mo ward, Nam Tu Liem district in the west of Hanoi, during which over 3,100 units – about 97% of the more than 3,200 available units – were booked.

The Senique Hanoi and Lumi Hanoi are part of CapitaLand Development’s plan to add 11,000 residential units in the next five years to 27,000 residential units in Vietnam by 2028. Including these two residential projects, CLD’s portfolio in Vietnam now comprises over 18,000 quality homes across 18 developments.

For The Senique Hanoi, CLD collaborates with two esteemed capital partners – Mitsubishi Estate Co., Ltd. and Nomura Real Estate Development Co., Ltd. – both of whom are renowned developers from Japan.

"The Senique Hanoi will leverage the site’s prime location and excellent infrastructure to cater to homebuyers seeking a high-quality living environment and strong investment potential," said Alwin Low, general manager of North Vietnam of CLD (Vietnam).

"Together with our joint venture partners, Mitsubishi Estate and Nomura Real Estate, we look forward to enhancing the eastern part of Hanoi with this thoughtfully designed residential project, which aims to meet the aspirations of city dwellers for style, wellness and connectivity," he noted.

Spanning approximately 2.1 hectares, construction of The Senique Hanoi is slated to commence in Q3/2024 and scheduled for completion in 2027. It enjoys convenient access via the Hanoi-Hai Phong Expressway, within a 30-minute drive from the Central Business District, and a 40-minute drive from the Noi Bai International Airport. Its connectivity will be further enhanced with the upcoming Metro Line 1 and Metro Line 8.

The Senique Hanoi is also close to a range of attractive amenities in Ocean City, such as an artificial saltwater lagoon and a freshwater lake, green parks, themed attractions, international schools, VinUniversity, shopping malls, and medical centers.

The project will feature about 2,150 units across three 37-storey towers, to be developed in two phases. Homebuyers can choose from a wide array of unit types, ranging from one-bedroom units starting at 42 square metres to four-bedroom units measuring up to 186 sqm. The development will also include duplex units and penthouses ranging from 118 sqm to 430 sqm.

On the positive market reception to Lumi Hanoi, Low added that Lumi Hanoi marks a significant milestone in CapitaLand’s 30-year journey in Vietnam. It offers top-tier facilities, thoughtful design, functional layouts and ample parking, all in line with the company's goal of enhancing homeowners’ lifestyles by blending luxury, convenience and wellness into their everyday lives.

"We are heartened that Lumi Hanoi has gotten off to a good start, attracting strong demand for its first two phases. Riding on the positive momentum, we are preparing to hold an exclusive preview of Lumi Hanoi’s Phase 3 in Q4/2024.

"In line with CapitaLand Development’s commitment to supporting Vietnam’s sustainable urbanisation journey, we continue to seek long-term investment opportunities, focusing on residential and commercial sectors," Low stated.

In addition to Lumi Hanoi, CLD achieved healthy results during the exclusive previews of Sycamore in Binh Duong New City in the southern province of Binh Duong, successfully selling over 70% of The Orchard, the development’s first gated community residence.

CLD is also making good progress with the construction of its projects. The 173-unit Heritage West Lake, CLD’s first luxury residential development in Hanoi, will begin handing over to homeowners in September 2024.

CapitaLand Development (CLD) boasts a portfolio worth SDG21.3 billion ($16.16 billion) as of 30 June 2024. Its well-established real estate development capabilities span across various asset classes, including integrated developments, retail, office, lodging, residential, business parks, industrial, logistics and data centers.

CLD (Vietnam) oversees and grows CLD’s investment and development business in Vietnam, one of CLD’s core markets where it has built an extensive presence over 30 years. CLD (Vietnam)’s portfolio comprises one SOHO development, two integrated developments, and over 18,000 quality homes across 18 residential developments.