CapitaLand Development (CLD) has extended its reach into Vietnam via a partnership with Vinhomes Joint Stock Company. They have also launched The Fullerton, a new housing initiative in Hung Yen province, which is expected to be valued at around $800 million in total development costs.
This accord demonstrates the mutual desire of both enterprises to investigate potential collaborative opportunities in extensive urban development projects. Their collaboration expands upon CLD’s current involvement in Vinhomes’ planned community initiatives, such as Lumi Hanoi at Vinhomes Smart City and The Senique Hanoi at Vinhomes Ocean Park.
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Jonathan Yap (C), CEO of CLD; Pham Nhat Vuong (L, 5th), founder and chairman of Vingroup Joint Stock Company; along with other delegates from both CLD and Vingroup participated in the signing ceremony held on May 5, 2025. The photograph was provided by CapitaLand Development. |
Tan Wee Hsien, the CEO of CLD Vietnam and International, characterized Vietnam as a key market for CLD, ranking it alongside Singapore and China. He mentioned that their collaboration intends to increase CLD’s capital investment in the nation by over twofold within the upcoming half-decade.
“With Vinhomes’ extensive understanding of the local market combined with CLD’s regional experience in design, development, and asset management, we are ideally positioned to collaboratively make significant contributions to Vietnam’s swiftly changing real estate sector,” Tan stated.
Nguyen Dieu Linh, who serves as the vice-chairwoman of Vingroup and sits on the board of Vinhomes, mentioned that this partnership marks a significant advancement in Vinhomes’ strategic growth plan. She further noted that their collaborative work with CLD is intended to develop top-notch urban spaces that meet international standards, fostering contemporary and habitable living environments.
CLD has introduced The Fullton, their initial low-rise residential project in Hung Yen Province, located within the Vinhomes Ocean Park 3 compound. This addition expands CLD’s residential development portfolio in Vietnam to more than 19,000 units spread across 19 initiatives.
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Illustration of The Fullton. Artwork by CapitaLand Development. |
Situated to the east of Hanoi, The Fullerton enjoys proximity to key transportation links such as National Highway 5A, Ring Road 3.5, the Hanoi–Hai Phong Expressway, Ngoc Hoi Bridge, and the future development of Tran Hung Dao Street. This enclosed neighborhood will feature an array of living spaces including shophouses, clustered villas, garden villas, and standalone villas.
Tan stated that the initiative backs CLD’s strategy to achieve 30,000 homes in Vietnam by 2029, highlighting the project’s significance for growth within the Northern Key Economic Zone.
The Fullton project will span 25 hectares in total, divided into two stages. In the initial stage, which encompasses 12 hectares, construction of 342 units is planned with completion set for 2026. The subsequent stage, spanning another 13 hectares, aims to introduce approximately an additional 350 units by 2027.
Intended to provide an upscale living environment, The Fullton will include a vast 1.9-hectare Central Park along with various facilities such as a clubhouse equipped with a 50-meter lap pool, open-air hot tub, gymnasium, meeting rooms, shared workspaces, and a library area.
The project aims to feature terraced landscapes reminiscent of Vietnam’s natural topography, blending green areas seamlessly into the residential zones. It will provide various housing options catering to different preferences—from vibrant city dwelling to peaceful, expansive settings.
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