Sun Group’s Phu Quoc portfolio commands Singaporean investors’ attention

Hundreds of investors and real estate experts from Singapore joined the September 27 conference at Royal Plaza on Scotts Hotel in Singapore, where Sun Group showcased its vacation real estate projects on Phu Quoc Island. The key selling points, as all agreed, were the projects’ fantastic growth prospects, competitive prices, and the prestige of the Sun Group brand.

Sam Ong, real estate agent of Savills Singapore, said Phu Quoc is on its way to becoming Vietnam’s Sentosa, with its prime geographic location, natural beauty, and unfathomable tourism potential.

“Starting out as a small fishing village, after 20 years, Sentosa has become a world-renowned tourist paradise. Phu Quoc has similar potential. Leading Vietnamese developers are working day and night to transform Phu Quoc,” Ong said.

Phu Quoc as an investment destination appreciated in the context of a diversification fever amongst Singaporean real estate investors after they carved out stable profit from traditional markets in the region, such as Thailand and Bali in Indonesia.

Ong said that only projects with international quality and prestigious developers that have been recognised worldwide can attract Singaporean investors, who are attracted to high growth prospects, but prefer to play safe. He added that this is the reason Sun Group’s vacation real estate projects launched in this event received such attention.

Victor Hong, an investor with a lot of experience in real estate investment around the world, said the developer’s prestige is a key factor. “We need to know how famous the developer is and what other products they have. Knowing that the acclaimed InterContinental Danang Sun Peninsula Resort comes from Sun Group , I am totally convinced,” he said.

In addition to the prestigious developer that has developed world-award-winning properties, a prime location overlooking the ocean, and a team of world renowned designers, Sun Group’s Phu Quoc portfolio also leaves similar projects in Singapore in the dust price-wise.

In Sentosa, two-bedroom beachfront condotels of about 110 square metres go for at least $3 million per unit ($27,000 per square metre). The hottest products, beachfront condotels already at $7 million, continue to be scarce and getting more costly, even though Singapore is raising the ownership tax on properties.

Villas in Sentosa cost about $11 million, while Sun Group’s villas and condotels of the same segment are much cheaper. Villas in Premier Village Phu Quoc Resort are only $1-2 million each. Units in Condotel Premier Residences Phu Quoc Emerald Bay cost $150,000 -1 million. Villas in the world-famous InterContinental Danang Sun Peninsula Resort are priced only at $3.8-6.5 million, very competitive compared to Singapore and other countries in the region. Moreover, Sun Group commits a profit of at least 9 per cent of the property value for nine or ten years with the renting programme.

The prestige of the developer, the otherworldly price, and the attractive profit commitment scheme convinced Singaporean investors that the event, and Sun Group’s projects are worth the attention.