Singapore's CapitaLand Development forms strategic partnership with Vietnam's Vinhomes

Singapore's CapitaLand Development has expanded in Vietnam with two major moves - a strategic collaboration agreement with leading local developer Vinhomes and the unveiling of The Fullton, a $800 million low-rise residential project in Hung Yen province.

The partnership with Vinhomes (HoSE: VHM) marks a pivotal milestone for CapitaLand Development (CLD), solidifying the partnership between two regional real estate developers.

The duo aim to create sustainable, long-term value within Vietnam’s booming real estate market, CLD stated in a release on Monday.

The agreement sets the stage for future joint ventures in large-scale urban developments. CLD’s successful track record within Vinhomes' townships, including projects such as Lumi Hanoi in Vinhomes Smart City and The Senique Hanoi in Vinhomes Ocean Park, lays a solid foundation for continued collaboration.

On the partnership, Tan Wee Hsien, CEO of CLD Vietnam and International, said: "Vietnam is a core market for CLD, alongside Singapore and China. Through this partnership with Vinhomes, we aim to more than double our capital investment in the country over the next five years."

"By combining Vinhomes’ deep local knowledge with CLD’s regional expertise across design, development, and asset management, we are well-positioned to jointly contribute to Vietnam’s rapidly evolving real estate landscape," he added.

Nguyen Dieu Linh, vice chairwoman of Vingroup and a member of the board of directors at Vinhomes, remarked: “The strategic collaboration with CapitaLand Development, a leading real estate group in Asia, marks a significant step in Vinhomes’ growth trajectory. This also underscores our commitment to striving to build premier, highly livable urban areas in Vietnam."

Linh added that in the future, Vinhomes and CapitaLand Development will jointly develop urban areas according to international standards, "creating ideal and luxurious living spaces, contributing to the development of a civilized, modern, and prosperous resident community nationwide."

Expanding CLD’s residential portfolio with The Fullton in Hung Yen

CLD is also expanding its residential footprint in Vietnam with The Fullton, a low-rise project located in Vinhomes Ocean Park 3, Hung Yen province, near Hanoi.

With a total projected development value of approximately $800 million, The Fullton marks CLD's first low-rise undertaking in Hung Yen, increasing CLD’s total residential development portfolio in Vietnam to over 19,000 units across 19 projects.

The Fullton occupies a strategic location just east of Hanoi, providing convenient access to the Northern Key Economic Region via major transportation corridors, including National Highway 5A, Ring Road 3.5, Hanoi-Hai Phong Expressway, Ngoc Hoi Bridge, and Tran Hung Dao street (with anticipated commencement in 2025).

The development will offer an attractive mix of residential properties, including shophouses, cluster villas, garden villas, and single villas. The Fullton will feature an innovative gated community concept, ensuring privacy and security for its future residents.

CEO Tan Wee Hsien said: “The Fullton aligns with our goal to scale up CLD’s operations in Vietnam, with a target of 30,000 residential units by 2029. This project will enhance our residential portfolio, expanding our presence in a key location with excellent growth potential."

"The Fullton is a key milestone in CLD’s long-term strategy for the Vietnamese market. With our full-spectrum expertise across the real estate value chain, CLD is committed to transforming The Fullton into a landmark development that will redefine the residential landscape in Greater Hanoi," he added.

Hung Yen province, which has seen consistent urban growth, is expected to increase its urbanization rate from 41.2% in 2020 to a projected 60-65% by 2030, according to CLD.

The population of the province reached an estimated 1.32 million in 2024, highlighting the growing demand for quality housing. Notably, owing to its strategic positioning and well-integrated transportation infrastructure, The Fullton is strategically poised to capitalize on the robust development momentum of the surrounding area.

The development spans 25 hectares and will be executed in two phases. The first phase, covering 12 hectares, will deliver 342 residential units by 2026, while the second phase, spanning 13 hectares, will add approximately 350 units by 2027.

The Fullton is designed to provide residents with a premium living experience. The centerpiece of the development will be a 1.9-hectare Central Park complemented by a comprehensive range of state-of-the-art amenities.

The iconic clubhouse will feature a 50-meter lap pool, outdoor jacuzzi, fitness centre, party houses, games room, co-working spaces, and a dedicated reading room.

Family-friendly facilities include playgrounds, a skate park, a sandpit, and a maze garden. Fitness enthusiasts can enjoy jogging tracks, outdoor fitness stations, and a multi-purpose court, along with pickleball courts. For those seeking moments of tranquillity, The Fullton will also feature the Secret Garden – a serene space for yoga, meditation, and quiet reflection.

Inspired by the terraced gardens of Vietnam’s natural landscapes, The Fullton’s design integrates residences within lush greenery. The development introduces a mix of residential unit types to cater to a diverse range of preferences, from urban dwellers to those seeking a more spacious, tranquil lifestyle, CLD noted.

Vinhomes (HoSE: VHM) is Vietnam's leading real estate developer and a subsidiary of the country's leading private conglomerate Vingroup.

Vinhomes has developed and currently manages 30 urban areas nationwide, concentrated in Hanoi, Ho Chi Minh City, and Hai Phong, and continues to expand to other provinces and cities.

CapitaLand Development (CLD) is the development arm of CapitaLand Group, with a portfolio worth S$21.5 billion as of March 31, 2025.

Focusing on its core markets of Singapore, China and Vietnam, CLD’s 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 19,000 quality homes across 19 residential developments.