Construction has begun on a 19ha, $744m residential project in Vietnam, developed by Singapore’s CapitaLand Group.

The new quarter will be located in Binh Duong New City, an industrial centre northeast of Ho Chi Minh City that is undergoing rapid economic growth. When complete, it will have 3,500 units, including flats, townhouses and villas.

Vietnam Plus reports that the development is expected to act as a catalyst for Binh Duong and also for foreign investment in Vietnam.