Real estate firms start offering products as investors start to eye opportunities
Real estate firms start offering products as investors start to eye opportunities
Local real estate traders have paid much attention to the ground-breaking ceremony of the second phase of the Splendora project in Hoai Duc District, Hanoi that took place in the very first day of June
Posco E&C ‘s determination for carrying out the project in An Khanh JVC Joint Venture (the main investor of that project) has cleared out the doubt that Splendora project might not be built as pledged in the first phase.
Lee Hyun Seok, general director of An Khanh New Urban Area Development Co Ltd stated that in the context when real estate market hasn’t fully recovered, many other investors had to slow down the implementation progress for their projects, the fact that Splendora project was to enter the second phase would be considered as the positive signal for real estate market. It was also considered as the most noticeable event in the recent gloomy real estate market.
The banks’ lending interest has been lowered by 50 percent against that of early 2010, while the real estate price has returned back to reasonable one. The investors have resumed transactions and sought for investment opportunities after the long hibernation period of the real estate market. Perhaps Posco E&C has foreseen the new opportunity in Vietnamese real estate market.
In the southern region, Phu My Hung Joint Venture has started offering 20 “castle” villas and 24 semi-detached houses in the South Saigon Urban Area project at price of 20-70 billion dong each. With that price, each villa or semi-detached house being sold successfully to the purchasers may make the real estate traders re-think about their business strategy and marketing methods because in the last two years, while many real property firms found it hard to do business in frozen market, there were 103 high-class villas being sold out in that project.
Many other small-d real estate investors also chose this time to launch their promotion programmes for selling their products in early Jun. In the northern region, Ha Tay Trading Joint Stock Co has lately started offering the apartments in The Sun Garden in Ha Dong Dist, Hanoi. The project has total investment capital of 450 billion dong. The project was expected to be kicked off in Q2 of 2012 and completed so as to hand over the finished products for purchasers in Q3 of 2013.
Tuan Chau Group and Jen Capital Co, the member company of Hong Kong-based Chiaphua Industrial, Consumption and Real Estate Group would introduce the Caye Serano resort villa complex project, situated in an area of 3.3 hectares in the southern part of Tuan Chau Island, Ha Long City, Quang Ninh province. The total investment capital for this project was posted at 1 trillion dong.
In Khanh Hoa province, Ha Quang Real Estate Joint Stock Co (Ha Quang Land) has also offered for sales the hot-spring villas in Venesia Onsen Villas, inder the 150-hectare Venesia Nha Trang resort-tourism site in Nha Trang City.
Meanwhile, in HCM City, Nova Real Estate Investment Joint Stock Co (Novaland) announced to offer for sales the 100 first apartments in high-rise apartment complex of Tropic Garden in Thao Dien Ward, Dist 2. The project included five 27-storey apartment blocks with 1,008 apartments. The offering price ranged from 22-27 million dong per square metre.
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