Accordingly, the unit signed a strategic cooperation agreement with Vinhomes Joint Stock Company (Vinhomes - Stock code: VHM) and launched The Fullton, a low-rise housing project in Hung Yen province with a total development value of estimated at 800 million USD.
The cooperation agreement between CLD and Vinhomes marks an important milestone in the relationship between the two prestigious real estate developers. Thereby, creating a premise for joint ventures to develop large-scale projects, contributing to creating sustainable values for the Vietnamese real estate market.
The success of CLD's previous projects in Vinhomes' urban areas such as Lumi Hanoi at Vinhomes Smart City and The senique Hanoi at Vinhomes Ocean Park is a solid foundation for more comprehensive and extensive cooperation.
Sharing about the cooperation relationship, Mr. Tan Wee Hsien - General Director of Vietnam and International Labor Federation - said: Vietnam is one of the key markets of the labor force, along with Singapore and China.
Through a cooperation strategy with Vinhomes, we expect to more than double investment capital in this market within the next 5 years.
Vinhomes' deep understanding of the market, along with CLD's comprehensive capabilities in design, development and asset management, will help strengthen the position of all parties on the journey to contribute to the development of the Vietnamese real estate market".
Ms. Nguyen Dieu Linh - Vice President of Vingroup Corporation, Member of the Board of Directors (BOD) of Vinhomes Joint Stock Company - said that the strategic cooperation with CLD is one of the leading real estate groups in Asia marking an important step forward in Vinhomes' development journey.
This is also a testament to our commitment to striving to build high-class urban areas in Vietnam, bringing a better life to the community.
In the coming time, Vinhomes and CLD will cooperate to develop urban areas according to international standards, creating ideal and luxurious living spaces, contributing to building a civilized, modern and prosperous community nationwide" - Ms. Linh shared.
Expanding the housing portfolio with The Fullton project in Hung Yen province
CLD is expanding its residential real estate investment portfolio in Vietnam with a low-rise project The Fullton located in Vinhomes Ocean Park 3, Hung Yen province, near Hanoi.
With a total project development value of about 800 million USD, The Fullton is the first low-rise project of CLD to be implemented in Hung Yen province, bringing the total housing development portfolio of CLD in Vietnam to more than 19,000 apartments in 19 projects.
Mr. Tan Wee Hsien - General Director of Vietnam and International Labor Federation - shared that The Fullton is a strategic step in the commitment to expand the scale of CLD's operations, aiming to achieve 30,000 apartments and houses in Vietnam by 2029.
With comprehensive capacity in the real estate value chain, we are confident that we will make The Fullton an iconic project, contributing to shaping new living standards in areas near the capital. We expect to have more potential investment opportunities to contribute to Vietnam's development process" - General Director of Vietnam and International Labor Federation said.
The project has a scale of 25 hectares, developed into two phases. Phase 1 will be implemented on an area of 12 hectares with 342 units, expected to be handed over in 2026; phase 2 includes about 350 units on an area of 13 hectares, and will be completed in 2027.
The Fullton promises to bring modern lifestyle, comfort and blend with nature. The center of the project is a 1.9 -hectare central park, a convergence of high -class utilities such as Clubhouse, 50m2 long swimming pool, outdoor jaculus, gym, banquet, amusement park, common work area and separate reading room.
