CapitaLand Buys a Residential Site in Vietnam's Ho Chi Minh City for US$38.9 Million

By Joanne Chiu Features Dow Jones Newswires

CapitaLand Ltd. (C31.SG) has acquired a residential site in Vietnam's Ho Chi Minh city for US$38.9 million, as the Singapore real-estate developer seeks to boost its portfolio in the southeast Asian country.

Continue Reading Below

CapitaLand said Thursday the site will be developed into a 870-unit residential development with a retail component at a total cost of US$177 million. The latest acquisition, which expands CapitaLand's portfolio to 11 residential developments in Vietnam, comes amid strong home sales growth for CapitaLand in Vietnam this year, it said.

Write to Joanne Chiu at joanne.chiu@wsj.com

(END) Dow Jones Newswires

November 15, 2017 19:24 ET (00:24 GMT)