Jonathan Yap, CEO of CLD (centre), Pham Nhat Vuong, founder and chairman of Vingroup JSC (fifth from left), and other representatives from both firms at the MoU signing ceremony
On May 5, 2025, CapitaLand Development (CLD) announced two major milestones in its development strategy in Vietnam:
- The signing of a strategic partnership with Vinhomes JSC, Vietnam’s leading real estate developer
- The launch of The Fullton, a low-rise residential project in Hung Yen Province, with a total estimated development value of USD 800 million.
The partnership agreement between CLD and Vinhomes marks a pivotal milestone in the relationship between two of the most reputable real estate developers. It lays the groundwork for joint ventures to develop large-scale projects that contribute to creating long-term, sustainable value for the Vietnamese real estate market. The success of CLD’s previous projects within Vinhomes’ urban areas — such as Lumi Hanoi in Vinhomes Smart City and The Senique Hanoi in Vinhomes Ocean Park — serves as a strong foundation for broader and deeper cooperation.
Speaking about the partnership, Mr. Tan Wee Hsien, CEO of CLD Vietnam and International, said: “Vietnam is one of CLD’s key markets, alongside Singapore and China. Through our strategic collaboration with Vinhomes, we aim to more than double our capital investment in this market within the next five years. Vinhomes’ deep knowledge of the local market, combined with CLD’s regional expertise across in design, development, and asset management, we are well-positioned to jointly contribute to Vietnam’s rapidly evolving real estate landscape.”
Ms. Nguyen Dieu Linh, Vice Chairwoman of Vingroup and a Board Member of Vinhomes JSC, stated: “The strategic partnership with CapitaLand Development, one of Asia’s leading real estate groups, marks a significant milestone in Vinhomes’ growth journey. It also affirms our commitment to building world-class, livable urban areas in Vietnam, aimed at delivering a better life for the community. In the near future, Vinhomes and CapitaLand Development will jointly develop internationally standardized urban projects, creating ideal and luxurious living spaces, and contributing to the development of a modern, civilized, and prosperous residential community across the country.”
CLD is currently expanding its residential real estate portfolio in Vietnam with its low-rise project, The Fullton, located in Vinhomes Ocean Park 3 in Hung Yen Province, adjacent to Hanoi. With a total projected development value of approximately $800 million, The Fullton marks CLD’s first low-rise undertaking in Hung Yen Province, increasing CLD’s total residential development portfolio in Vietnam to over 19,000 units across 19 projects.
Artist’s impression of The Fullton, CLD’s first low-rise project in Hung Yen province
The Fullton is strategically located just east of Hanoi, offering easy connectivity to the northern key economic region via major transportation corridors. The project will feature an attractive and diverse range of residential options, including shophouses, cluster villas, garden villas, and single villas. It is designed as a gated community to ensure high standards of security and privacy, while also creating a refined living environment for future residents.
Mr. Tan Wee Hsien, CEO of CLD Vietnam and International, added: “The Fullton is a strategic step in CLD’s commitment to expanding our operations, with the goal of reaching 30,000 homes in Vietnam by 2029. In addition to enriching the supply of high-quality housing across the country, this project marks an important milestone in our long-term development journey in this market. With our comprehensive capabilities across the real estate value chain, we are confident The Fullton will become a landmark project, setting a new standard of living in areas surrounding the capital city.”
The project spans 25 hectares and will be executed in two phases. The first phase, covering 12 hectares, will deliver 342 residential units by 2026, while the second phase, spanning 13ha, will add approximately 350 units by 2027.
The Fullton promises a modern and comfortable lifestyle harmoniously integrated with nature. At the heart of the project is a 1.9-hectare central park, featuring a range of premium amenities such as a clubhouse, a 50-meter swimming pool, outdoor jacuzzi, gym, banquet room, playground, co-working area, and a dedicated reading room.
Inspired by the image of terraced rice fields—a distinctive cultural symbol of Vietnam’s highland regions—The Fullton’s design integrates residences within lush greenery. The project offers a wide variety of housing types, catering to diverse needs, from urban dwellers to families seeking a spacious and tranquil lifestyle.
