CapitaLand Hope Foundation sets up its first Hope school in Vietnam.

With total capital of VND3.3 billion ($159,400) also contributed by local People’s Committee, after the upgrading, the school will be renamed CapitaLand Nang Yen Primary Hope School and it is CapitaLand’s first Hope School in Vietnam.

The signing of the Memorandum of Agreement between CapitaLand and the People’s Committee of Thanh Ba district took place at Mulberry Lane Sales Gallery yesterday.

Mulberry Lane is CapitaLand’s first residential development in Hanoi. Located in Ha Dong District in Mo Lao New Urban Area, Mulberry Lane offers approximately 1,500 luxurious apartments in a variety of sizes and layouts.

When completed in December 2011, CapitaLand Nang Yen Primary Hope School is expected to benefit 165 underprivileged children with upgraded amenities for the children to grow, develop and learn in a more conducive and spacious environment.  

CapitaLand Hope Foundation has so far sponsored a total of 16 CapitaLand Hope Schools, of those 15 located in various parts of China and this is the first school in Vietnam.

Lim Chin Beng, chairman of CapitaLand Hope Foundation, said: “As one of Asia’s largest real estate companies, it is important for us to contribute back to the communities where we operate. We are proud to have extended the footprint of our Hope Schools to Vietnam with our current 15 Hope Schools in China. We will continue to help the needy students in Vietnam and bring them hope for a better future.” 

Meanwhile, Yip Hoong Mun, deputy CEO of CapitaLand (Vietnam), said: “Vietnam is CapitaLand’s fourth pillar of growth in addition to CapitaLand’s core markets in China, Singapore and Australia. We are committed to giving back to the Vietnamese community as we grow our business in the country. We will continue to leverage on our presence in Vietnam and seek opportunities to build a brighter future for the underprivileged children in Vietnam.”

Currently, the group's presence in Vietnam is in Ho Chi Minh City, Hanoi, Hai Phong and Danang, in the residential and serviced residence sectors.

In the residential sector, the group has a portfolio of over 5,500 units in Ho Chi Minh City and Hanoi, comprising four prime residential developments and two value homes developments under its new strategic business unit, CapitaValue Homes, which focuses on building good value homes in Asia.