CapitaLand Limited is in talks to acquire assets worth roughly $1.5 billion from Vietnam's biggest listed property firm Vinhomes Joint Stock Company (HOSE:VHM), two sources familiar with the matter told Reuters. The talks come as Vietnam's property sector is struggling with a cash crunch following an anti-graft campaign launched by the government in the year 2022. Discussions between CapitaLand, majority owned by Singapore state investor Temasek Holdings (Private) Limited, and Vinhomes have taken place for some projects owned by Vinhomes, four sources told Reuters.

Vinhomes, Vietnam's biggest real estate developer by market capitalization, is part of Vingroup Joint Stock Company (HOSE:VIC). One of the sources said CapitaLand is considering buying part of Vinhomes' Ocean Park 3 project, a 294-hectare resort city style development near the Vietnamese capital city of Hanoi, or another project in the northern city of Haiphong. The value of the deal was still being negotiated, the person said, adding the talks reached advanced stage.

The sources declined to be identified due to the sensitivity of the matter. When contacted by Reuters, CapitaLand Development did not directly comment on any potential deal with Vinhomes but said: "Vietnam is one of CapitaLand Development's core markets. We constantly evaluate investment opportunities to grow our presence in the country." Vingroup declined to comment on any discussions with CapitaLand, but said that as a listed company it would disclose information if any transactions happen.