Tag: Ascott

  • CapitaLand Development Completes $270,000 Vietnam Charity Initiative

    CapitaLand Development Completes $270,000 Vietnam Charity Initiative

    CapitaLand Development concluded its Step For Kindness charity initiative in Vietnam this October after 8,500 participants logged 490 million steps during a four-month campaign.

    The milestone released a final 98,000 dollar grant from the CapitaLand Hope Foundation to the Blue Dragon Children’s Foundation, fulfilling a three-year commitment worth 270,000 dollars, or more than 7 billion dong.

    Disbursement targets education and vocational skills

    Funding went toward sustained interventions rather than short-term emergency relief. Over the three-year cycle, the capital supported more than 200 youths in maintaining regular school attendance. It also backed vocational instruction for 20 trainees and delivered 20 skills workshops to 70 participants across Hanoi and Ho Chi Minh City.

    Volunteer teams from CapitaLand ran modules in foreign languages, sciences, technology, leadership, and employment preparation. The final phase closed with an in-person walking event on October 4 at the Ocean City development in Hung Yen province following a four-month virtual challenge.

    Commercial backing anchors community initiatives

    Corporate sponsors tied their branding directly to the campaign. The Fullton Regal, which forms the second phase of CapitaLand Development’s landed residential project in Hung Yen, served as the primary commercial backer.

    Other corporate partners joined the effort, including Ascott International Management Vietnam, residential developer Vinhomes, and VietinBank’s Hanoi branch. Consumer brands such as Otsuka Nutraceutical Vietnam, Gelato Stick Legend, SmartHeart Gold Vietnam, Lifestyle Viet Nam, Parkway Dental, and BIBPIX Technology also contributed operational resources.

    Developer strategy in provincial property markets

    For Southeast Asian property developers, community campaigns in secondary provinces serve a practical commercial purpose. Master plans outside Tier 1 urban cores require steady foot traffic and brand recognition before residential handovers take place.

    Regional activations at projects such as Ocean City anchor consumer attention in satellite districts while building local government goodwill. The risk sits in sustaining resident interest once promotional budgets shift toward fresh project pipelines in competing provinces.

    Tracking three years of northern expansion

    In 2024, CapitaLand Hope Foundation established a formal framework with Blue Dragon Children’s Foundation to channel corporate donations into accredited social mobility programs across Vietnam. That agreement established sequential funding milestones linked directly to employee and public engagement targets.

    Blue Dragon Co-CEO Skye Maconachie confirmed the multi-year structure provided predictable financing for long-term rehabilitation work. The charity targets young people exiting exploitation and poverty traps, providing counseling alongside job training in services such as food and beverage hospitality.

    CapitaLand Development now turns its focus to project delivery across its northern residential pipeline, where construction milestones at The Fullton Regal in Hung Yen will test buyer demand through 2027.

  • New Bukit Bintang mall for Kuala Lumpur

    New Bukit Bintang mall for Kuala Lumpur

    Retail, entertainment and hospitality brands will feature in a planned City Centre development including a Bukit Bintang mall in Kuala Lumpur.

    “The mall will transform the retail landscape in Kuala Lumpur, catering to all shopping needs with the introduction of home-grown and new-to-market international brands,” says Eco World Development, which is part of the joint venture planning the $400 million project.

    Other signatories to the heads-of-terms agreement signed in Kuala Lumpur are BBCC Development,Mitsui Fudosan (Asia) and Zepp Hall Network. Eco World Development says the project will have an estimated gross development cost (GDC) of RM1.6 billion (US$400 million) and cover 19.4 acres (7.8ha) of mixed residential and commercial development, with UDA Holdings and the Employees Provident Fund (EPF) also as partners.

    Under the agreement, the retail mall will be owned and run through a joint-venture company, Mall JVCo.

    Phase one of the project will be a 45-storey block of strata offices and two blocks of serviced residences, comprising of 680 units, with construction to begin in the third quarter of this year.

    Mitsui Fudosan will jointly develop a 1.4 million sqft (126,000 sqm) lifestyle retail mall, while Zepp Hall is investing in a 2000-seat event hall, the first of its kind outside Japan. Zepp Hall is a subsidiary of Sony Music Entertainment (Japan), and its core business is running venues. Its concert hall will be in the Entertainment Block in BBCC, next to the mall.

    The project is expected to also get underway in the third quarter, and take eight to 10 years to develop. The Mall JVCo is proposed to be equally owned by Mitsui Fudosan Asia and the shareholders of BBCC.

    “This substantial investment by Mitsui Fudosan Asia represents the largest retail investment to date by the group outside Japan,” says Eco World.

    The mall will be developed under the Mitsui Shopping Park LaLaport brand, a regional mall concept conceived by Mitsui Fudosan more than 35 years ago. The concept has evolved from “a place where people gather” to “a place where people interact”.

    BBCC also signed a MoU with Ascott, a member of Singapore’s CapitaLand and the largest international serviced-residence owner-operator in the world, with more than 45,000 units in 290 properties, spanning 100 cities in 27 countries.