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.
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.
Continue Reading Below
Write to Joanne Chiu at email@example.com
(END) Dow Jones Newswires
November 15, 2017 19:24 ET (00:24 GMT)