CapitaLand to double investment to Vietnam: report

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CapitaLand Ltd., Southeast Asia's biggest developer, plans to double its real estate investment in Vietnam over the next three to five years, Singapore-based Channel News Asia said in a report Monday.

The company is investing around US$1.2 billion in Vietnam and the figure will be raised to $2.5 billion, CEO Liew Mun Leong was quoted in the report as saying.

CapitaLand, headquartered and listed in Singapore, considers Vietnam as a key market together with China, Australia and Singapore.

The developer is investing in residential projects in Vietnam's largest cities including Hanoi, Da Nang and Ho Chi Minh City. It also plans to build affordable housing in the country.

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