CapitaLand Development unveils new upscale residential project in Hanoi
Lumi Hanoi consists of approximately 4,000 high-end apartments in western Hanoi with an expected value of $740 million.
CapitaLand Development (CLD) is set to build Lumi Hanoi, an upscale residential venture, on a premium site in western Hanoi. With an estimated gross development value of around SGD1 billion ($740 million), the project will cover an area of approximately 5.6 ha and construction is scheduled to begin in the first quarter of 2024.
Lumi Hanoi is located in a well-planned infrastructure area in the west of Hanoi, near a variety of attractive amenities including parks, schools, shopping malls, medical centers and the new administrative center. It is accessible by the Thang Long Highway and is a convenient 20-minute drive from Hanoi’s CBD and 40 minutes from Noi Bai International Airport. Connectivity will be further improved in the future, when Metro Lines No. 5, 6 and 7 open.
The project will comprise about 4,000 units in nine 29 to 35-storey towers to be developed over multiple phases. It will offer a wide selection of unit types, ranging from 42 sq m for a one-bedroom unit to 135 sq m for a four-bedroom unit. There will also be duplex units and penthouses ranging from 115 sq m to 410 sq m in size.
“We are pleased to expand our residential offering with the development of Lumi Hanoi in the capital of Vietnam to meet demand for quality real estate amid the country’s continuing urbanization and population growth,” said Mr. Ronald Tay, CEO of CLD (Vietnam). “Positioned as one of CapitaLand’s signature residential projects, Lumi Hanoi will continue our commitment to sustainable urbanization, delivering expertly crafted living spaces and amenities that meet the aspirations of discerning homebuyers. Leveraging CapitaLand’s strong track record and expertise in developing award-winning residential properties across Asia, we are confident that Lumi Hanoi will set a new benchmark for sophisticated and sustainable urban living in the capital city.”
“Vietnam is one of three core markets for CLD and we hold a long-term view of our business in the country,” he continued. “Amid uncertainties in Vietnam’s real estate sector, we remain confident about securing compelling investment opportunities by leveraging our close to three decades of on-the-ground experience and strong financial standing. As one of Asia’s leading real estate developers with expertise across multiple sectors, we are on the lookout for attractive opportunities across various asset classes, with a focus on the residential and commercial sectors in the near term. Our long-term vision is to become a developer of choice in Vietnam’s sustainable urbanization journey, contributing towards the country’s economic success through quality real estate products and services.”
Lumi Hanoi will be part of CLD’s residential portfolio in Vietnam, which will consist of approximately 16,000 premium residences spanning 17 projects. CapitaLand has been present in the country since 1994, building a robust presence in the market with a diverse portfolio that includes not only residential projects but also a retail mall, a SOHO (small office, home office) development, and two integrated developments.
More than residences, Lumi Hanoi is a visionary vertical neighborhood that will transform the city’s community with a blend of sustainability, sophistication and serenity to redefine urban living. Lumi Hanoi is designed by French architect Jean-François Milou of Studio Milou, who is also behind the design of the Binh Dinh Convention Center in Quy Nhon, south-central Binh Dinh province, and the National Gallery of Singapore. Lumi Hanoi marks his debut residential project in Vietnam.
Inspired by “lumière”, the French word for light, Lumi Hanoi represents the development’s essence, emphasizing light’s vital role in sustaining life and creating a home. This “city of lights” concept underlies the design philosophy, reflected in the curated towers’ façades breaking monotony, offering visual appeal with interplay between sunlight and shadows throughout the day, and serving as guiding beacons at night.
Lumi Hanoi boasts a unique celestial-themed landscape, featuring hills and ponds inspired by the sun, aurora, and stars. A central park offers a tranquil escape and access to outdoor amenities, while an elevated boardwalk elegantly connects the development, aglow with light at night. With over 80 facilities, including 15 sports courts and diverse pools, Lumi Hanoi encourages an active lifestyle for residents of all ages.
It is targeting to receive EDGE (Excellence in Design for Greater Efficiencies) certification from the International Finance Corporation. Key sustainability features include 4.3 ha of lush landscaping, rainwater harvesting, ecosystem ponds, a biotope system, and electric vehicle charging lots and bicycle lots.
