CapitaLand acquires prime site in Vietnam, sets up $130m fund

CapitaLand acquires prime site in Vietnam, sets up $130m fund

Men walk past a sign at a construction site just off on Singapore's main shopping boulevard Orchard Road November 17, 2009. REUTERS/Rob Dawson

Singaporean property developer CapitaLand has further expanded its foothold in Vietnam, its third largest market in Southeast Asia, with the establishment of a second commercial fund and the acquisition of a prime site in Hanoi.

In a statement, CapitaLand said it successfully set up CapitaLand Vietnam Commercial Value-Added Fund (CVCVF), its second commercial fund in the country, which was closed at $130 million. The first commercial fund, CapitaLand Vietnam Commercial Fund, was closed at $300 million last year.

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