» » Korean developer to launch property project in Danang

Korea Investment and Development Company Limited says it will introduce a replica apartment of the condo project Blooming Tower Danang late this month and will start a second sales program for the project after the first one kicked off in May.

The project Blooming Tower Danang is being developed in the new urban town Da Phuoc, near the ongoing construction cable-stayed bridge Thuan Phuoc crossing the Han River in the central coast city of Danang.

The developer says some 160 apartments of the project will be put on sales at prices starting from US$1,500 to US$1,620 per square meter.

In the first phase, the company sold 134 apartments at prices ranging from US$1,200 to US$1,560 per square meter. Homebuyers were not only local residents but also those from HCMC, Hanoi, Hue City and foreigners, according to the company.

The Korean developer has poured some US$90 million to turn a 10,800-square-meter site into a condo project having two 37-floor towers with 671 luxury apartments whose areas range from 50 to 202 square meters each. The buildings overlook the sea, the Han River, Ba Na Mountain, Son Tra Peninsula and Danang City.

The condo project is also inclusive of other facilities such as commercial section, swimming pool, spa, fitness center, mini golf course, restaurant and conference room.

The company says homebuyers can pay for their apartments within six phases, starting with 15% of the total value of an apartment in the first phase. In addition, they will receive a financial support from VID Public Bank which will offer loans worth 70% of the total value of an apartment within 15 years.

Blooming Tower Danang got off the ground in October last year and will be up and running in late 2011.

Source: he Saigon Times

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