SINGAPORE (Mar 1): CapitaLand announced Thursday it has acquired a prime site for its first integrated development in Vietnam’s capital city, Hanoi.

Through wholly-owned subsidiary CVH Nereus, CapitaLand has acquired some 17 million shares in Hien Duc Tay Ho (HDTH), representing 99.49% of the charter capital of the company, at a total cash consideration of approximately VND 685 billion ($40 million).

HDTH owns a 0.9 ha site in Hanoi’s exclusive Tay Ho district, which will be developed into a mixed-use development comprising residential and Small Office Home Office (SoHo) apartments, office and retail space.

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