CapitaLand Group: ‘Build for People to Build People’

In 1994, CapitaLand entered Vietnam’s real estate market with its first serviced residence in Hanoi named Somerset West Lake, developed under its subsidiary brand, The Ascott. Today, The Ascott is the largest international serviced residence owner-operator in Vietnam, with properties across HCMC, Hanoi, Hai Phong and Da Nang. Over the years, The Ascott has built a strong track record of developing landmark projects, including Somerset Hoa Binh, Somerset Grand Hanoi, Somerset West Lake Hanoi, Somerset HCMC and Somerset Chancellor Court HCMC.

 

 In 2006, CapitaLand expanded its business capacity by initiating The Vista development in HCMC. Located at An Phu Ward, District 2, The Vista comprises of 750 residential units. In Hanoi, CapitaLand has developed the Mulberry Lane project that holds 1,500 apartments. Situated at the Mo Lao new urban area in Ha Dong district, this high-end development aims to improve the living standard of homebuyers and help them to further succeed in life.

 

CapitaLand has not only won the BCA Green Mark Award for its commitment to go green in developing properties, but also awards from the annual Asia Property Awards. CapitaLand (Vietnam) and The Ascott have also been bestowed both the prestigious Golden Dragon Awards by the Vietnam Economic Times and the Saigon Times Top 40 Awards – Green Values for several consecutive years.

 

CapitaLand Hope Foundation (CHF) is CapitaLand’s philanthropic arm, established in 2005. “CHF aims to create a better future for underprivileged children by supporting their shelter, education and healthcare needs. We wish to bring benefit not only to Singapore’s society, but also to those of our host countries,” Mr Yip explained. Recently, the CHF joined the People’s Committee of Thanh Ba district, Phu Tho province in funding the 3.3 billion VND refurbishment project of Nang Yen primary school. The signing ceremony took place on 18 May 2011 and was witnessed by the Chairman of the People’s Committee of Thanh Ba district and many members of the media.

 

Mrs Do Thi Thanh Tam, President of Nang Yen primary school said, “We greatly appreciate CapitaLand’s effort in supporting the development of education in Nang Yen commune and Thanh Ba district and we believe that the project will allow for an environment that is conducive for learning. This project marks the continuation of a stable and lasting relationship between CapitaLand and Nang Yen CapitaLand Hope School, and I hope that we can continue working together to further develop the future of the children in our community.”

 

President Ho Chi Minh once said, “Ten years of planting trees, hundred years of building people.” In accordance with President Ho Chi Minh’s motto and CapitaLand’s credo “Building for people to build people”, every year, CapitaLand allocates up to 0.5 percent of its net profit to the CHF to carry out community involvement projects.

 

Vietnam is CapitaLand’s fourth pillar of growth. The country has presented many opportunities with its strong economic growth coupled with rapid urbanization and a young and growing population. Moreover, the rising average household income has created a growth potential in the housing market. In 2009, CapitaLand invested S$299 million in Vietnam and the company targets to increase its total assets in Vietnam from 1 percent currently to 10 percent in the next three to five years.

 

In October 2010, CapitaLand set up a new strategic business unit, CapitaValue Homes, to capitalize on the growing demand of mass market homebuyers for value housing in Asia. Each of its value housing developments is envisaged to be a vibrant living community sought after by young executives, home up-graders and first-time homebuyers. To ensure value-for-money and increased cost efficiency, according to Mr Yip Hoong Mun: CapitaValue Homes will adopt standardized designs using industrialized construction methods. Its value homes will also feature basic functional facilities that best suit the needs of Professionals, Managers, Executives and Technicians (PMETs) while keeping the prices attractive.