» » Big housing project set to join market next week

VNRE - Local property developer Van Phat Hung Corporation is pressing ahead with a plan to market its condo project in HCMC’s District 7 by launching a sales program for first apartments in the project next week.

Vo Anh Tuan, chairman of the corporation, says the La Casa condo project will gauge homebuyers’ feedback in the market with some 110 apartments with prices starting from US$1,000 (VND19.5 million) per square meter.

Tuan says the corporation has invested some VND3,000 billion, or over US$150 million, to develop the La Casa project, which is located on Hoang Quoc Viet and Dao Tri streets, facing the Nha Be River in District 7, some eight kilometers from the heart of HCMC.

The residential project is located on a 6-hectare area with 10 blocks of buildings from 28 to 35 stories, offering the local property market some 2,000 apartments and penthouses from 85 to 124 square meters.

Apart from commercial apartments, the project is designed with a section of apartments for lease and a section of 58,000 square meters for hotel and office spaces. Besides, it also includes spaces for retail and other serviced facilities such as an entertainment section, parks, fitness centers and schools.

“By launching the sales program, we want to stay ahead on the market when it is projected to look brighter in the coming time,” Tuan says in response to the Daily’s question why the corporation decided to launch its market program at a time when the local property market has witnessed stagnant trade.

He says the market has experienced difficulties for nearly three years, from 2008 – 2010, and following its cycle development, the market is foreseen to go up again in the coming time given the country’s positive trend of recovery.

Reported by Dinh Dung/ The Saigon Times

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