» » Press Release: Phu My Hung Corporation officially introduced the CRESCENT and appointed SAVILLS to be sole leasing & management agent for the project

Ho Chi Minh City, April 9th, 2009 – The Phu My Hung Corporation unveiled The Crescent on April 9th 2008. On this occasion, the announcement that Savills Vietnam was appointed as the sole leasing and management agent for the entire development was made.

The project, located in the new financial and commercial district of Phu My Hung in District 7 will total a size of 150,000 sq m in its first phase and will cost US$ 200 million of investment.

The Crescent will comprise of approximately 300 premium serviced apartments, 10,000 sq m of international standard office space, 22,000 sq m of waterfront retail space opening from July 1st 2009 and in addition, a regional shopping mall of 45,000 sq m, the first of its kind in Vietnam starting construction in July 2009.

The community will experience the unique elements of “The Crescent” that will create a central Lifestyle precinct in the heart of District 7, providing a lively and welcoming meeting place.

Combining the preserved landscape of the banks of the Crescent Lake and the modern streetscape of a contemporary high-class development, The Crescent brings to Saigon South a destination that embraces the heritage and character of the existing lake and offers the latest in working, shopping, entertainment, dining and living choices for current and future generations to enjoy.

“I have witnessed first hand the growth of Phu My Hung and the aspirations of people wanting to live and work in Phu My Hung. Completion of the Crescent and Crescent Mall will further enhance the area and offer further confirmation that PMH is the number one place to live, work, shop and play.” said Rupert Provest, Head of Leasing for Savills Vietnam.

The apartments are designed with a wide range of layouts from 1 to 4 bedrooms that can accommodate the needs of a wide array of residents from the families to the young couples and single executives. An exclusive fitness centre, 2 swimming-pools, squash courts and gardens will contribute to making living in the Crescent highly desirable.

In addition, there will be over 210 specialty stores, an array of restaurants and cafes, offering both indoor and alfresco dining, an 8 screens Cineplex, over 3,000 sq m of entertainment areas and a range of community spaces such as the Starlight Bridge and the pedestrian waterside boardwalk, which provides a place to relax and escape.

This unique setting will host not only seasonal, sportive and cultural events of the community but also commercial events from the shopping mall.

“The Crescent will come to life with an action-packed program of events. The yearly calendar of celebrations will include something for everyone, from fashion parades to flower exhibitions, dance events and 'Movies in the Square' for the whole family to enjoy.

"It is very exciting to be involved in the first true international shopping mall and entertainment venue of Vietnam. Savills having managed and been involved in numerous retail projects across the region, we are excited to see this project coming to life in this vibrant retail market" said Brett Ashton, Managing Director for Savills Vietnam.

About Phu My Hung

Established on 19th May, 1995, Phu My Hung Joint Venture Company was joint by Tan Thuan Industrial Promotion Company (IPC Vietnam) and Central Trading & Development company (CT & D – Taiwan).

IPC: represents for Ho Chi Minh City People’s Committee, contributing 30% to the fund, by land-using right and human resources for Phu My Hung’s development. CT&D: one of the biggest and the most successful foreign investor in Vietnam with the capital investment of over $650 million in three considerable projects: Phu My Hung new urban town, Tan Thuan EPZ (Export Processing Zone) and Hiep Phuoc Power Plant. CT & D contributes 70% in the Phu My Hung new urban town.

With main function is building the ten-lane Nguyen Van Linh Boulevard (a road with total length and width approximately 17.8 km and 120 meter respectively) as well as building the Phu My Hung new urban town along the road, Phu My Hung has contributed to reducing the population density in inner-city areas.

About Savills

Savills is a leading global real estate service provider. The company, established in London in 1855, has a rich heritage with unrivalled growth. Savills now has over 200 offices and associates through out the Americas, Europe, Asia Pacific, Africa and the Middle East. A unique combination of sector knowledge and entrepreneurial flair gives clients access to real estate expertise of the highest calibre. Savills is regarded as an innovative-thinking organization which offers a premium service to developers, investors, owners and occupiers. Savills Vietnam is the largest and most experienced provider of real estate services in the country with 370 staff and has been operating in Vietnam since 1995.

Savills Vietnam offer services across three major platforms: consultancy, agency sales and leasing and property management.
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Due Diligence
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Property Management

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