NHO becomes a household name with new projects
NHO becomes a household name with new projects
The National Housing Organisation JSC is making its presence felt with some ambitious urban development plans.
Kim Kyoo Chul, member of the board of directors of the joint venture between locally-owned TAG JSC and South Korea’s NIBC Investment Limited, told VIR that early this year, the National Housing Organisation (NHO) planned to develop a series of property projects in Vietnam.
“The company is planning to build 100,000 apartments over the next 10 years in Vietnam. In the near future, NHO will implement three projects under our First Home Premium brand in the Ho Chi Minh City’s District 9, Binh Thanh and Thu Duc,” he said.
NHO also began construction on a First Home Premium project on July 22 in the southern province of Binh Duong, with nearly 1,000 apartments.
Earlier in June 2014, NHO also broke ground on construction of its First Home Premium Loc Phat in the southern central city of Quang Ngai’s An Phu Sinh urban area. This project followed the three previous successful property projects in Danang city, Ho Chi Minh City and An Giang province.
This project, which is the first private urban area in the southern central province of Quang Ngai, received its land title-deed in mid-August.
“One of the main reasons behind our investment in Quang Ngai is that thanks to various incentives this province is strongly attracting foreign investment in urban area development,” Chul said.
“The area has great potential for our project and An Phu Sinh is one of our key projects here. We also want to provide more high-quality apartments for the locals.”
The project will be built to meet South Korean standards and cover more than eight hectares. Apartments will cost around VND680 million ($32,380).
Over 50 per cent of 66 initially-released apartments have been registered for purchase.
NHO currently possesses 230 hectares of land and plans to develop 25,000 apartments during the period 2013-2016.
The firm’s products will marketed to different segments under the First Home, First Home Premium, First Residence, Nobilis and Smart City brand names.
vir
