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584 Lilama SHB Building, originally uploaded by Kiva.Dang.

A low-lost apartment project named ‘584 Lilama SHB Building’ got off the ground in HCMC’s Tan Phu District over the weekend, offering more choice for mid- and low-income homebuyers in the years to come.

The condo project is seated on a 4,500-square-meter site on Trinh Dinh Trong Street in the district and is jointly developed by The Transport Engineering Construction and Investment Joint Stock Company 584, better known as 584 Group, and Lilama SHB Construction Joint Stock Company.

As designed, the condo project will include two 20-storey blocks, with some 420 apartments whose sizes are designed from 50 to 70 square meters each. The property project costs some VND300 billion.

Le Tan Hoa, general director of Lilama SHB Construction Joint Stock Company, said the condo project target medium incomers, thus selling prices are expected to start from around VND12 million per square meter.

On the same day, the consortium signed a cooperation agreement with the Bank for Investment and Development of Vietnam (BIDV) and Ocean Bank for financial support worth VND1 trillion for the condo project 584 Lilama SHB Building and another property project named 584 Lilama SHB Plaza to be developed in HCMC’s Go vap District in October this year by the consortium.

Also at the event, the project developer appointed two real estate trading floors including Lilama SHB Song Phat and Neoland to distribute apartments in the project.

The developer said the condo project 584 Lilama SHB Building will be up and running by August 2011.

Source: NLD

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