With sustainability at the heart of everything it builds, CapitaLand Development’s projects across Singapore, China, and Vietnam diligently meet the needs of a growing number of homebuyers and tenants. Jonathan Yap, CEO, tells us how.
ASIA’S DEVELOPER OF CHOICE
Akin to many of Asia’s real estate markets, Singapore is experiencing a mix of both challenges and opportunities.
The former includes higher interest rates and recent government cooling measures, which have resulted in a more cautious residential property landscape.
Coupled with a maturing industry, these factors have caused homebuyers and investors to become more discerning, particularly in the luxury and foreign buyer segments.
Additionally, land supply for new commercial and industrial developments is more limited compared to the residential market, which is experiencing an uptick in demand due to positive economic performance in Singapore.
Despite this, leading real estate developer CapitaLand Development (CLD) remains optimistic about the resilience of the country’s real estate market.
“At CLD, our strategy is centred around adapting to evolving consumer preferences, keeping pace with changing government policies, and navigating the economic landscape, which includes rising interest rates,” introduces Jonathan Yap, CEO.
Recent industry evolutions have focused on digital innovation, suburban development, and sustainability, as evidenced by initiatives such as the Singapore Green Plan 2030 which emphasises the need to achieve green certifications and attract environmentally-conscious buyers and tenants.
Thankfully, CLD has long been integrating sustainability and digital innovation into its projects to meet the growing demands of homebuyers and tenants across Singapore, China, and Vietnam – its three core markets.
“We focus on innovation, collaboration, and technology to ensure that we remain ahead of real estate trends whilst ensuring our developments are environmentally responsible,” Yap adds.
“CLD believes that the real estate industry in Singapore will continue to thrive and evolve, shaping a more sustainable future for urban living.”
PUSHING REAL ESTATE BOUNDARIES
As the privately held development arm of CapitaLand Group (CLG), which celebrates its 25th anniversary this year, CLD is one of the continent’s largest and most diversified real estate organisations.
The company is distinguished by its end-to-end capabilities across a wide range of asset classes, including integrated developments, retail, offices, residential, business parks, logistics, and data centres.
This is bolstered by a varied portfolio that spans commercial, residential, and new economy sectors.
“Our expertise in master-planning and project management has enabled us to deliver numerous award-winning developments,” Yap surmises.
CLD remains focused on adapting to evolving market trends, such as the increased demand for sustainable building practices, digital innovation, and flexible spaces.
“Our team is always exploring ways to innovate and push the boundaries of real estate development, ensuring that we are at the forefront of creating spaces that meet the evolving needs of businesses, tenants, and communities,” he affirms.
A key element of the company’s forward-thinking solutions is the consistent consideration of sustainability, which is at the core of everything it develops.
“From the design phase, we incrementally adopt low-carbon materials and innovative blueprints to progressively reduce emissions across our projects,” explains Yap.
In particular, CLD’s collaboration with government regulators, institutions, and supply chain partners is key to driving sustainable construction and contributing to a greener built environment.
Its commitment to eco-friendly practices is also exemplified by the initiatives it champions and the work of the CapitaLand Hope Foundation (CHF), the philanthropic arm of CLG.
CHF supports programmes that positively impact the communities where CLD operates to create a better and more sustainable future, going beyond real estate development.
“Our purpose is to enrich lives and uplift communities by creating high-quality spaces for people to work, live, and play. CLD’s developments foster community well-being, contributing to the broader environment and social good,” he prides.
SUPPORTING VIETNAM’S HOMEBUYERS
Over the last three decades, CLD has built a credible reputation for delivering quality residential offerings throughout Vietnam.
To date, its residential portfolio in the country includes over 18,000 homes spanning 18 developments and comprising units that are either completed or under construction.
The company recently increased its target to create 30,000 units by 2029, further reinforcing CLD’s long-term commitment to being the trusted developer of choice both in Vietnam and across the continent.
“Leveraging our full capabilities across the real estate value chain, from conceptualisation and planning to execution and delivery, CLD is dedicated to creating expertly crafted living spaces and high-quality amenities that meet the aspirations of homebuyers in Vietnam,” Yap insights.
Last year, all four of the company’s residential launches were met with strong demand, emphasising the confidence that homebuyers have in CLD.
All 3,950 units at the Lumi Hanoi development, for example, sold out in three phases, whilst The Senique Hanoi, located in the eastern part of the capital, achieved a 96 percent sales rate.
Meanwhile, both low and high-rise developments in the company’s Sycamore project in the Binh Duong province were positively received with sales surpassing 90 percent.
“These robust numbers underscore our ability to deliver homes that align with people’s desires and lifestyles,” enlightens Yap.
In addition to its highly successful launches, CLD also handed over two residential developments, DEFINE and Heritage West Lake, to homeowners in 2024, demonstrating the company’s commitment to timely delivery and the provision of quality homes that meet the expectations of buyers.
“As we continue to strengthen our residential portfolio in Vietnam, we see the potential for CLD to tap into opportunities in the country’s burgeoning commercial, industrial, and logistics sectors in tandem with its ascent as a global manufacturing hub.”
CONSCIOUS DESIGNS
CLD has continually incorporated environmentally-conscious designs, low-impact construction materials, as well as energy and waste-efficient systems into its developments.
Case in point, both Sycamore and Lumi Hanoi are designed to achieve Excellence in Design for Greater Efficiencies (EDGE) certification from the International Finance Corporation (IFC).
In addition, the company was also recognised as the Best Sustainable Developer at the PropertyGuru Vietnam Property Awards in 2021, 2023, and 2024, further acknowledging its commitment to sustainability in real estate development.
“As Vietnam increasingly emphasises sustainable development, we will leverage CLD’s strengths in sustainability and work closely with local authorities and partners to contribute meaningfully towards Vietnam’s economic development and urbanisation journey,” Yap enthuses.
Beyond real estate, CLD is dedicated to uplifting communities across the country through CHF and its philanthropic efforts in education and health, along with its well-being initiatives for children, youth, and seniors.
In Vietnam, the foundation has donated more than SGD$3.5 million to beneficiaries since 2011, supporting more than 19,000 children and aiding the refurbishment of five schools across the country.
CHF has also partnered with the Blue Dragon Children’s Foundation, a charity dedicated to supporting vulnerable children and young people in Vietnam.
Through this partnership, CHF pledged up to USD$270,000 to improve social mobility by providing access to education.
INNOVATIVE DEVELOPMENTS
CLD has had an exciting start to 2025 with the launch of PARKTOWN Residence – the largest integrated development in Singapore.
A joint venture with UOL Group Limited and Singapore Land Group Limited, it is the company’s first major project of the year.
Launch weekend saw 87 percent of the 1,193 units snapped up, emphasising the development’s strong appeal.
“With its strategic location in one of Singapore’s most sought-after residential estates and seamless connection to retail spaces, dining options, lifestyle amenities, and transportation hub, PARKTOWN Residence is poised to meet the evolving needs of modern homeowners,” excites Yap.
In addition, CLD is developing Geneo, a 55ha life sciences and innovation cluster at the Singapore Science Park (SSP), slated for full completion this year.
Comprising three properties with five state-of-the-art sustainable buildings, Geneo marks the latest phase of SSP’s rejuvenation, adding 180,600 sqm of gross floor area to the park, of which 80,000 sqm will be purpose-built infrastructure to support biomedical R&D.
The workspaces will be complemented by first-rate lifestyle amenities and curated placemaking programmes to create a well-rounded environment that helps companies attract and retain talent.
On top of this, an upcoming residential development is to be connected to the cluster, which is a first for SSP. This is in line with CLD’s aim to transform the park into a holistic work-live-play innovation district.
Catering to the needs of sustainability-minded tenants, Geneo has obtained notable green credentials, with two properties being awarded WELL Core Precertification from the International WELL Building Institute (IWBI).
Additionally, 7 Science Park Drive, a key building in the Geneo development, has achieved Building and Construction Authority (BCA) Green Mark Super Low Energy (SLE) certification and earned the BCA Project of the Year award in 2024.
Beyond Singapore, China remains a core market for CLD as one of the first foreign real estate companies to gain a foothold in the country.
“We have built a strong foundation in China across multiple asset classes and gained extensive knowledge of local markets,” insights Yap.
The company has also played an important role in government-to-government developments between Singapore and China, including the China-Singapore Guangzhou Knowledge City, which is celebrating its 15th anniversary this year.
BEDROCK OF SUCCESS
CLD’s people are its most valuable asset and the bedrock of its success as each team member brings unique strengths and experience, enabling the company to stay ahead in an ever-evolving market.
Moreover, CLD’s cultural pillars – learning, progressive, fun – guide the company’s engagement with its people.
Recognising this commitment to workplace well-being, CLD is proud to be the first real estate developer in Singapore to earn the WELL Equity Rating from IWBI for its headquarters.
Innovation is also at the core of CLD’s culture as it fosters a supportive environment for collaboration and empowers its team to think outside the box.
To support its innovation efforts, CLG launched the CapitaLand Innovation Fund (CIF) in 2021, forming an SGD$50 million initiative to foster a culture of forward-thinking solutions across the group.
CIF supports test beds and proof of concept projects globally, focusing on sustainability, digital transformation, operational excellence, and customer experience.
Since its inception, CIF has funded 100 pilot projects including the use of carbon-mineralised concrete at Geneo and artificial intelligence (AI)-based site safety management tools in China, making it a key player across the Asian real estate market.
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