Vina Dai Phuoc a bright spot in the gloom

Vina Dai Phuoc a bright spot in the gloom

Many development firms are understandably sullen about the gloomy property market. But Vina Dai Phuoc is an exception that is very pleased with its project's sale rates.

The firm recently announced that it sold 169 villas in the initial launch of its 22-hectare South Lotus ecological villa project—one part of the $400 million Dai Phuoc Lotus complex on Dai Phuoc Island, Dong Nai city's Nhon Trach district, in southern Vietnam.

Phung Huu Quoc Tuan, senior project manager of Vina Dai Phuoc Corp, said the sales about to 70 percent of the 238 villas available in the first phase. "We considered it as a success as sale rates of other property projects in Dong Nai City currently is moderate," Tuan said.

Tuan said he hoped the first phase will be sold out by the middle of 2013, and South Lotus's second phase with 94 villas covering the project's prime plots would be offered immediately after.

At this time, Vina Dai Phuoc is preparing to hand the new owners over the keys for about 100 villas while speeding of the Lotus Sport Center project, which covers a hectare land next to the South Lotus.

After completion, Lotus Sport Center will provide South Lotus residents with a clubhouse; spa, gym, tennis courts; swimming pools, parking and other amenities. e

Vina Dai Phuoc was established in 2010 by VinaCapital, Vietnam's leading property and investment management firm and DIC Co. Ltd, main developer of the 400ha Dai Phuoc Lotus project.

Vina Dai Phuoc owns a 200-ha land on Dai Phuoc Island while Jeongsan Vina Co. Ltd, a subsidiary of Korea-backed Taekwang Corporation owns an 84-ha property located beside an 18-hole golf course. The remaining land on the island belongs to DIC Co. Ltd.

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