CapitaLand Development signs MOU for S$1.3 billion investment in Vietnam

SINGAPORE - Feb. 25, 2022 - PRLog -- CapitaLand Development (CLD), the development arm of CapitaLand Group, has signed a Memorandum of Understanding (MoU) with the People's Committee of Bac Giang province.  The MoU outlines CLD's and the provincial government's mutual interest to explore the development of CLD's first industrial park, logistics park and township development in Vietnam with a total projected investment value of S$1.3 billion (VND22.7 trillion).

The exchange of the signed MoU was witnessed by the President of the Socialist Republic of Vietnam Mr Nguyen Xuan Phuc during his state visit to Singapore.  The MoU marks one of the largest investments sealed between a Singaporean company and the government of Vietnam during the state visit.

The MoU further reinforces CLD's long-term commitment to Vietnam's economic development.  In the next five years, CLD plans to accelerate its growth, expanding its portfolio in asset classes such as data centres, logistics facilities as well as industrial and business parks.  CLD will also seek master planning and urban development opportunities, while expanding its current residential portfolio.

For full release: https://bit.ly/CLDVMoU13bEm