HCM City (Saigon) sees sharp increase in condo projects
Viet Nam News
Update: March, 11/2017
Many developers in HCM City have launched condo projects with various offers since the beginning of the year. – Photo cafef.vn
HCM CITY – Many developers in HCM City have launched condo projects with various offers since the beginning of the year.
Most of them are located in the western and southern areas of the city.
Earlier this month, many new projects were brought to the market in
For instance, the Dream House Investment Joint-Stock Company began
construction of the 20-storey D-Vela project with 168 condos in
Also in District 7, the Phú Mỹ Hưng Development Corporation held its
first sales event for a new project called Phú Mỹ Hưng Midtown.
A new selling phase for Saigon South Residences in Nhà Bè District is also expected to begin soon.
Đất Xanh Company, meanwhile, launched a new project called Luxgarden on
Nguyễn Văn Quỳ Street in District 7, with two 26-storey buildings
containing a total of 500 apartments.
In addition, Hưng Lộc Phát will kick off sales for its luxury project, The Golden Star, on Nguyễn Thị Thập Street in District 7.
Kiến Á Company has announced that it will begin construction on the
second phase of its Lvaila project with 257 villas in southern HCM City.
In the western area of the city, MoonLight Boulevard in Bình Tân
District, developed by Hưng Thịnh Real Estate Company, will be brought
to the market this year.
Meanwhile, Gotec Land continues to sell units in its Summer Square on
Tân Hoà Đông Street, and with 1,000 condos, Phú Sơn Thuận Company will
sell its Orient Plaza project in Tân Phú District.
Prices vary depending on the area of the city.
In District 2, developers are focusing on projects with the price range
of VNĐ30 million (US$1,300) to VNĐ80 million ($3,500) square metre
($120-$324 square foot).
In Thủ Đức District and District 9, however, the price is VNĐ18-30 million ($790-1,300) per square metre.
Phạm Văn Lâm, general director of Danh Khôi Á Châu Real Estate Company,
said that developers were becoming more professional by focusing on
commitment and prestige.
They have developed projects with many facilities and amenities, he said.
Lê Chí Hùng Việt, deputy director of the Dream House Investment
Joint-Stock Company, attributed the market’s liquidity to demand from
investors who buy condos for leasing purposes.
This is a new choice for investors, he said, adding that condos with a
good location, flexible installment plans, and modern decor will
attract more investors.
In coming months, developers will continue to bring to the market many new products.
Hưng Thịnh Company plans to open 5,500 apartments and 1,000 land slots
this year, while Him Lam Land is set to develop 3,000 units this year.
Ngô Quang Phúc, the company’s deputy director, said that 80 per cent of
these units will have prices ranging from VNĐ1.5 billion to VNĐ2
billion ($66,000 to $88,000 USD). The remaining 20 per cent will have
prices of more than VNĐ2 billion.
The company also targets developing a luxury project in District 1 this year.
chapter previous next