Artist’s impression of CapitaLand’s new landed residential development to be built on the site in Ho Chi Minh City’s District 2.

CapitaLand has bought a 60,732 square metre prime residential site in Ho Chi Minh City, Vietnam, for 1.38 trillion Vietnamese dong (S$81.4 million) in cash, the property developer said on Thursday (Aug 30) during the midday trading break.

Under the deal, CapitaLand’s wholly owned subsidiaries CVH Sparrow, CLV Investment 2 and CLV Investment have acquired 100 per cent of the charter capital of BCLand Joint Stock Co from parties unrelated to CapitaLand. BCLand shareholders are known as a member of Golden Star Investment Corporation (GSIC) and now owns 100 per cent of the charter capital of Doan Nguyen House Business & Investment, which owns the site at Binh Trung Dong Ward, District 2 in Ho Chi Minh City.

Find more details at: The Straitstimes Business

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