» » » » Tokyu Binh Duong launches first condos

VNRE - Becamex Tokyu Co. Ltd. last Friday launched the sample apartment of Sora Gardens, a component of the US$1.2-billion urban project Tokyu Binh Duong Garden City, and started offering the first apartments of this project.

Some 400 Sora Gardens flats among a total of 1,500 are now on sale through the distributor CB Richard Ellis Vietnam, said Hoshino Toshiyuki, general director of Becamex Tokyu.

Each apartment covers 67-105 square meters and has a price starting from VND1.28 billion, with 30% to be paid when contracts are signed and the remaining sum to be settled when apartments are handed over in the third quarter of next year.

Tokyu Binh Duong Garden City is developed on around 110 hectares in Binh Duong New City at a total cost of VND25 trillion, or some US$1.2 billion. When completed, the project will supply over 7,500 apartments, houses, recreational facilities, and commercial and office space.

Tokyu Corporation, the Japanese investor in the joint venture Becamex Tokyu, said that despite the problems of the property market, Binh Duong remained very potential. The property market in Binh Duong has lured a lot of investors from neighboring localities and helped many realty firms grow up through project distribution.

Binh Duong is better known when the plan for Binh Duong New City was announced about three years ago. The project covering around 1,000 hectares is expected to become an economic-political-social center of Binh Duong, with utilities and services for some 125,000 residents and 400,000 people coming for work.

Binh Duong is one of the few localities with the fastest and the most synchronous infrastructure development. Well-developed infrastructure will create a motivation for the property market.

Not only in the new city, multiple infrastructure projects connecting Binh Duong with nearby localities are also under construction, such as National Highway 13, HCMC-Chon Thanh Expressway, Belt Road No. 3 and 4.

Source: The Saigon Times

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