Becamex IDC has received approval from authorities in southern Binh Duong province to transfer a housing urban area complex in Binh Duong New City to Sycamore, an affiliate of the Singapore-headquartered CapitaLand, for construction.

Covering 18.9 ha, the project will feature 462 villas and 3,300 apartments on a total construction area of 592,876 sq m.

It will have an estimated population of 12,500.

The project’s total investment capital is estimated at more than VND13.6 trillion ($566 million).

CapitaLand began to operate in Vietnam in 1994. The group has a range of projects in many cities and provinces around the country, including Hanoi, Ho Chi Minh City, Hai Phong, Quang Ninh, Da Nang, Quang Nam, Khanh Hoa, and Binh Duong.