74 | CapitaLand Limited Annual Report 2014
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CapitaLand’s Regional Investments unit
manages regional real estate investments
which include CapitaLand Vietnam, StorHub
and its Indonesia venture.
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In Vietnam, CapitaLand has built a track record as
a reliable developer which delivers quality projects.
In 2014, CapitaLand Vietnam achieved total sales of
1,000 apartment units. It also celebrated the
20
th
anniversary of its entry into Vietnam with the launch
of a high-end residential development, Vista Verde in
District 2, Ho Chi Minh City in September 2014.
PARCSpring, its mrst affordable housing project in Vietnam
was completed on schedule and 100% of the units
launched in Phase One has been sold.
In developing its projects, CapitaLand takes into
consideration the lifestyle and community needs of
residents. At The Vista, Ho Chi Minh City, a retail podium
named Vista Walk was built to cater to the shopping
and family entertainment needs of residents. To foster
community spirit, CapitaLand also organised various
cultural events for residents, including The Vista Christmas
bazaar, full moon festival and acoustic night.
CapitaLand’s developments in Vietnam renect the
company’s strong commitment to sustainability.
Mulberry Lane, its residential project in Hanoi has been
accorded Green Mark Certimcation by the Building and
Construction Authority, Singapore and the Eco-friendly
Building Award by the Association of Vietnam Architects.
CapitaLand will leverage its 20 years’ experience in
Vietnam and continue to seek growth opportunities in the
rapidly urbanising market.
StorHub
CapitaLand’s self-storage business, StorHub, is the
largest operator in Singapore with 11 facilities which span
1.38 million sq ft in GFA. In FY 2014, StorHub achieved
revenue of S$20.8 million. Its operations in Shanghai
also gained traction. Through stronger marketing efforts
in Shanghai, its occupancy doubled to 63% as at 31
December 2014.
In Singapore, a major asset enhancement initiative was
carried out to better integrate and enhance its operations.
This resulted in brighter facades with enhanced signages
featuring StorHub’s new logo, a refreshed customer
reception and a new biometric access system to boost
security. For better outreach to customers, StorHub also
expanded its online presence to include social media and
mobile device access.
Indonesia
CapitaLand has been operating its serviced residence
business in Indonesia since 1995 via Ascott. In November
2014, CapitaLand signed a 50-50 joint venture agreement
with a subsidiary of Credo Group to build its mrst integrated
development in Indonesia. The development is situated
on a one-hectare site in Jakarta’s central business
district and will comprise a Grade A ofmce tower, mid- to
high-end residential units, serviced residences and
supporting retail spaces. Going forward, CapitaLand
will leverage its expertise in integrated developments,
shopping malls, serviced residences, ofmces and homes
to explore growth opportunities in Indonesia.
StorHub, Singapore
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The Vista, Ho Chi Minh City, Vietnam
Business Review
