» » Bank, realty firm ink apartment wholesale deal

VNRE - Saigon Thuong Tin Bank (Sacombank) on Wednesday signed a memorandum of understanding with Saigon Thuong Tin Real Estate JSC (Sacomreal) to buy all apartments in a property project in HCMC’s District 6.

Sacombank wants to provide the 121 apartments at the Sacomreal Hung Vuong project on Kinh Duong Vuong Street for its staff who are in need of a home.

Sacomreal said it would spend some VND300 billion developing this housing project designed to consist of a condo section with 117 units and four penthouses, and a 3,200-square-meter office section.

Dang Hong Anh, board chairman of Sacomreal, said manpower is a core value for companies, so apart from offering a workplace, it is good for a company to care about its staff’s housing needs as a reward for their contribution.

Property developer Sacomreal has put on a business cooperation program to offer apartments at basic prices as it has joined hands with Sacombank’s labor union to wholesale apartments.

Sacomreal said it would break ground for an apartment project this quarter and that it could be up and running by the first quarter of 2013.

Reported by Dinh Dung | The Saigon Times

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