CapitaLand achieves 99% take-up for Lumi Hanoi

CapitaLand Development (CLD) has received a strong response for the third and last phase of Lumi Hanoi, its residential mega-development in Vietnam. In an Oct 14 press release, the developer says 678 of the 697 units released for sale under the last phase were taken up by the end of launch day on Oct 5, which reflects a take-up rate of 97%. This brings the overall take-up rate for the 3,950-unit development to 99%, says CapitaLand. "The success of Lumi Hanoi this year, which also marks CapitaLand’s 30th anniversary in Vietnam, reflects homeowners’ trust in our commitment to deliver quality and sustainable homes,” says Ronald Tay, CLD’s CEO for Vietnam. Lumi Hanoi is a joint venture between CLD, Mitsubishi Estate and Far East Organization. It is located in the west of Hanoi, about a 20-minute drive from the city’s central business district and about a 40-minute drive from Noi Bai International Airport. To date, 3,921 out of the 3,950 units at Lumi Hanoi have been sold across three phases of launch. Read also: CapitaLand Development submits $368.9 mil bid for Kallang Way industrial GLS site Advertisement Advertisement CLD’s portfolio in Vietnam currently comprises over 18,000 homes across 18 developments including Lumi Hanoi. The company says is targeting to expand its portfolio to 27,000 residential units in Vietnam by 2028. The developer will break ground on The Senique Hanoi, its 2,150-unit high-end residential project in East Hanoi this month. It is also set to launch Orchard Hill in 4Q2024. The 774-unit project is the second phase of Sycamore, CLD’s development in Binh Duong New City, about 30km away from Ho Chi Minh City. Sycamore is a joint venture with United Overseas Australia and encompasses a total of 3,500 freehold units across a mix of low-, mid-and high-rise developments.