CapitaLand is marking 30 years of operations in Vietnam with a series of events, including an appreciation dinner attended by nearly 400 guests, including business partners, stakeholders, and employees. The dinner was graced by H.E. Jaya Ratnam, Ambassador of Singapore to Vietnam, recognizing CapitaLand’s contributions to Vietnam’s development.

Three decades of growth and expansion

CapitaLand’s presence in Vietnam began in 1994, initially focusing on serviced residences and commercial projects. In 1996, the company became part of the Singapore consortium behind the first Vietnam-Singapore Industrial Park (VSIP) in southern Binh Duong province. Since then, it has significantly expanded its footprint in Vietnam’s real estate sector, launching a variety of high-quality residential projects.

Today, CapitaLand has a diverse portfolio that includes a retail mall, one SOHO (Small office, Home office) development, two integrated developments, and over 18,000 homes spread across 18 residential projects. Through its wholly-owned lodging business unit, The Ascott Limited, the group manages around 9,000 lodging units across 36 properties in 16 cities and provinces in Vietnam.

Mr. Ronald Tay, CEO of CapitaLand Development (Vietnam), highlighted the company’s ambitions. “We are excited about the growth potential and opportunities in Vietnam, with plans to expand CapitaLand Development (Vietnam)’s residential portfolio to 27,000 units by 2028,” he said. “Beyond residential developments, we see significant potential in the office, industrial, and logistics sectors as Vietnam evolves into a global manufacturing hub. Through strategic partnerships, we will continue to invest in large-scale projects in key cities like Hanoi and Ho Chi Minh City, as well as in emerging provinces, reinforcing CapitaLand’s long-term commitment to Vietnam.”

“Over the past three decades, we are proud that CapitaLand has established itself as a trusted partner in Vietnam’s real estate market and played a pivotal role in shaping its urban landscape and contributing to the country’s economic growth,” Ambassador Ratnam told the gathering, emphasizing that CapitaLand’s commitment to innovation, sustainability, and community development has truly transformed cities and lives around Vietnam. “All of these would not be possible without the vision of and strong support from the Vietnamese Government and provincial authorities. CapitaLand’s 30 years of growth in Vietnam is a testament to the flourishing and strong bilateral relationship between Singapore and Vietnam.”

Long-term commitment to community development

CapitaLand has also deepened its commitment to social responsibility through its philanthropic arm, the CapitaLand Hope Foundation (CHF). The Foundation recently partnered with the Blue Dragon Children’s Foundation, pledging up to $270,000 to support vulnerable children and youth by improving their access to education and social mobility.

On September 30, the CHF inaugurated its fifth school refurbishment project under the CapitaLand Hope School Programme. The project, at the Tien Son Primary School in northern Bac Giang province, involved a total contribution of S$490,000 ($380,300) for the redevelopment of an educational block. The initiative was supported by several partners, including the Hanoi University of Civil Engineering, the 1 + 1 > 2 Architecture Firm, and others. This refurbishment brought the total number of schools under the Hope School Programme to 33, benefitting more than 29,000 underprivileged children across Vietnam, India, and China.

Volunteer engagement and sustainability efforts

To further its community involvement, CapitaLand organized the International Volunteer Expedition (IVE) as part of its #GivingAsOne campaign. This initiative brought together over 100 volunteers, including more than 90 CapitaLand staff from ten countries and 14 students and lecturers from the Hanoi University of Civil Engineering. From September 28 to 30, volunteers worked to enhance the learning environment at the Tien Son Primary School by painting murals, setting up learning corners, improving the school field, and planting gardens.

CapitaLand also contributed to the construction of a new two-story building at the Tien Son Primary School. The building features six classrooms and four lavatories, serving more than 200 students. The 8,000 sq m facility is located just 1.5 hours from Hanoi and has achieved LOTUS certification from the Vietnam Green Building Council for its sustainable design. The building incorporates green spaces, natural ventilation, and sustainable materials, with design elements inspired by traditional Vietnamese craftsmanship, such as brick walls and references to rice paper production.

As CapitaLand celebrates 30 years in Vietnam, the company remains focused on expanding its real estate portfolio while also making a positive social impact. Its commitment to innovation, sustainability, and community development continues to be a driving force in its long-term presence in the country.