CapitaLand Development will developa high-end residential project, Lumi Hanoi, at a prime site in the west of Hà Nội. — Photo courtesy of CapitaLand Vietnam
CapitaLand Development (CLD) has recently announced that it will develop a high-end residential project, Lumi Hanoi, at a prime location in the west of the capital city.
The project’s total gross development value of around S$1 billion (US$738 million). To be developed over an area of around 5.6ha, construction is expected to begin in the first quarter of 2024.
Lumi Hanoi will be located in a well-planned area near a variety of attractive amenities including parks, schools, shopping malls, medical centres, and the new administrative centre.
It is accessible by the Thăng Long Highway and is a convenient 20-minute drive from Hà Nội’s central business district and a 40-minute drive from Nội Bài International Airport. In future connectivity will be further improved when metro routes 5, 6 and 7 become operational.
The project will comprise around 4,000 units in nine 29- to 35-storey towers to be developed in phases.
Lumi Hanoi is designed by French architect Jean-François Milou of Studio Milou, who is also behind the design of the Binh Định Convention Centre in Quy Nhơn Province, and the National Gallery of Singapore.
Lumi Hanoi is his first residential project in Việt Nam.
Ronald Tay, CEO of CLDVietnam, said: “We are pleased to expand our residential offering with the development of Lumi Hanoi in the capital of Vietnam to meet the demand for quality real estate amidst the country’s continuing urbanisation and population growth.
“Positioned as one of CapitaLand’s signature residential projects, Lumi Hanoi will continue our commitment to sustainable urbanisation, delivering expertly crafted living spaces and amenities that meet the aspirations of discerning homebuyers.
“Việt Nam is one of three core markets for CLD and we hold a long-term view of our business in the country. Amidst uncertainties in Việt Nam’s real estate sector, we remain confident of securing compelling investment opportunities by leveraging our close to three decades of on-the-ground experience and strong financial standing.
With Lumi Hanoi, CLD’s residential portfolio in Việt nam will comprise 16,000 quality homes across 17 projects.
CapitaLand has been operating in Việt Nam since 1994, and established a strong foothold in the market with a diversified portfolio. — VNS