CapitaLand tops out Mulberry Lane

October 16, 2012 | 09:42

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Despite market challenges, Singaporean real estate developer CapitaLand demonstrated its commitment to the Hanoi residential project dubbed Mulberry Lane with a “topping out” ceremony to mark completion of the building frame.

CapitaLand joined with domestic partner Hoang Thanh Investment and Infrastructure Development Joint Stock Company to celebrate the progress of the five-block project that is projected to provide 1,478 luxurious apartments across five towers that overlook the scenic lakes and the city.

Yip Hoong Mun, deputy CEO of CapitaLand Vietnam Holdings, told VIR that so far about 75 per cent of units in the first main blocks of the project were sold. “This is quite a good process and the last block will be built in a new concept and its price will be dependent on the real market,” Yip said. Mulberry Lane is CapitaLand’s first residential project in Vietnam. Yip said that the company was proud to have achieved structural completion of Mulberry Lane despite current market challenges.

“This is testament of our strong delivery track record and our commitment as a real estate developer in Vietnam. We will continue to build more homes that are of high quality and value,” Yip said.

Also on this occasion, a range of promotional packages were offered to prospective buyers, including fit-out and furnishing options up to a maximum of 50 units. In addition, flexible payment schemes and exclusive home mortgage packages with competitive rates will also be offered by CapitaLand’s banking partner, Standard Chartered Bank.

Started in 2009, Mulberry Lane is strategically located in the Mo Lao New Urban Area in Ha Dong district, Hanoi, next to major institutions such as Hanoi University, Architect University and Security University.

Mulberry Lane distinguishes itself from other residential projects in the city by its architectural design, landscaping, quality finishes and a comprehensive range of facilities. Residents will be able to enjoy landscaped gardens with lush greenery and a wide range of recreational facilities such as a 50-metre lap pool, sauna, gymnasium, putting green, multi-purpose court and taichi lawn for a three-generation family.

The development offers different unit types ranging from studios to three bedrooms, special duplexes with double volume space and penthouses with access to private rooftop deck. It is expected to be completed towards end of 2013.