Hong Kong firm invests $11 million in south Saigon apartments
Hong Kong firm invests $11 million in south Saigon apartments
Hong Kong’s VNK Investment Consultants has purchased 50 apartments in two real estate projects developed by Bao Gia Group in south Saigon.
The VND250 billion ($11 million) deal was formalized last week in the presence of representatives of Bao Gia Group and VNK Investment Consultants, the exclusive distributor of Cosmo City and Docklands Saigon apartments for foreigners in Vietnam.
A representative of VNK Investment Consultants said that after many years of researching and investing in Vietnam’s real estate market, the firm still sees the south of HCMC be a hot spot that attracts domestic and foreign investors, because its urban development is more synchronized and superior than other areas in the city.
However, besides prime location, real estate investment also depends on many other factors including legal transparency, complete infrastructure, utilities, reasonable price and prestigious developers.
Cosmo City and Docklands Saigon are rare projects in the market that fully meet these criteria, the representative said.
A Bao Gia Group representative said that many foreigners would choose Cosmo City and Docklands Saigon as long-term investments.
"Cosmo City and Docklands Saigon are among the few projects where units are sold after they have been completed, so there are no legal risks like some other projects on the market."
Bao Gia Group is committed to handing over the certificate of land use rights, ownership of apartments and other properties associated with land use as soon as customers pay 100 percent of the apartment’s value, the representative said.
The two projects meet the needs of modern infrastructure and utilities. For instance, shopping needs are met with a BigC shopping center, fitness needs with a well-equipped gym, and child care needs with a kindergarten and playing area for children. A green park, a big car park and luxuriously designed community rooms are other conveniences that both projects offer.
"Their location in the vicinity of international schools, hospitals, commercial centers and movie theaters will ensure a peaceful, comfortable life for residents."
Bao Gia Group has invested heavily in the quality of construction and utility systems, but still ensures reasonable prices for customers through effective cost control measures, its representative added.
Located on Nguyen Thi Thap Street, each apartment in Cosmo City and Docklands Saigon with an area of 72-173 square meters has a reference price of VND34 million ($1,460) per sq.m. They boast optimal design of functional space, allowing sufficient natural light and ventilation, thereby ensuring a fresh, airy and healthy living environment for residents. Furthermore, these apartments have been completely built and are ready for immediate occupation.
The Bao Gia Group representative also announced that the second phase of Cosmo City project would launch sales in the third quarter of 2019 with nearly 400 apartments.
Before investing in Vietnam, Bao Gia (Pau Jar) Group had garnered over 20 years of experience in markets like Taiwan, mainland China, Malaysia and Australia.
In Vietnam, before the Cosmo City and Docklands Saigon projects, the group had invested in the Parkson Flemington shopping center located on Le Dai Hanh Street, District 11, HCMC.
