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SINGAPORE'S CapitaLand wants to expand further its already booming real estate business in Vietnam to include leisure resorts and office buildings, the property developer said.
CapitaLand, South-east Asia's biggest developer, is also keen to more than double the number of residential units it is building there to 6,000 from 2,800 homes over the next three years, the company said late Tuesday in a statement.
'The Vietnam market presents opportunities for CapitaLand to expand beyond its present serviced apartments and residential businesses to include offices, retail, and integrated leisure, entertainment and conventions developments,' the developer said.
'Overall, as a long-term player, CapitaLand sees tremendous growth potential in Vietnam as it is one of the fastest growing economies in Asia,' it said.
The company is currently looking for suitable sites for leisure, entertainment and conventions facilities, the statement said.
CapitaLand began its foray into Vietnam last year and is involved in four residential developments in Ho Chi Minh City, the country's commercial metropolis.
In its latest earnings results, CapitaLand earned a net profit of S$563.9 million on revenues of S$895.8 million in the three months to September. -- AFP
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