CapitaLand Development (CLD) has received an overwhelming response to its two latest projects in Vietnam. The developer kicked off an exclusive preview of Orchard Hill on Oct 26, which is the second phase of Sycamore, located in Binh Duong New City, about 30km from Ho Chi Minh City. Sycamore is a joint venture with United Overseas Australia and features 3,500 freehold units comprising a mix of low-, mid-, and high-rise developments. Within a short period of time, 694 units, or 90% of Orchard Hill, have been booked. One- and two-bedroom units are the most sought-after among buyers. The project is expected to be completed by 4Q2026.
On Nov 9, CLD held an exclusive preview of The Senique Hanoi, a 2,150-unit high-rise residential development in East Hanoi. The project has already booked 92% of its units, signaling a strong demand for new homes in the area. Developed in collaboration with Mitsubishi Estate and Nomura Real Estate Development, The Senique Hanoi is slated for completion in 2027.
The successful launch of Lumi Hanoi’s third and final phase last month further solidifies CLD’s strong presence in the Vietnamese market. A total of 678 out of 697 units released for sale were snapped up on the launch day, reflecting a take-up rate of 97%. This brings the occupancy rate of the 3,950-unit Lumi Hanoi to 99%. The rapid uptake of units in all three projects demonstrates the attractiveness of CLD’s developments to buyers in Vietnam.
When considering investing in property in Singapore, it is crucial for foreign investors to take note of the regulations and limitations governing ownership. While the rules for purchasing landed properties are more stringent, foreigners can typically buy condos with relatively less restrictions. However, it is worth noting that foreign buyers will be subjected to the Additional Buyer’s Stamp Duty (ABSD), currently set at 20% for their initial property purchase. Despite the extra expenses, the stable and potential growth of the Singapore real estate market makes it an attractive location for foreign investment. If you have your eyes set on investing in a condo in Singapore, it is vital to be mindful of these factors. Condo should be carefully considered before making any investment decisions.