Golden property spots are shining

The VND700 billion ($33.8 million) New Pearl building in District 3’s 192 Nam Ky Khoi Nghia street is developed by an investor consortium of Duc Khai, Phuong Trang and Saigon 5 Construction and Trading firms. Construction of the project’s foundation and basement is completed.

Vincom has completed site clearance at its VND8 trillion ($386.4 million) Eden project, a shopping, hotel and apartment complex in District 1’s Ben Nghe ward.

Currently, Van Thanh Market, developed by an investor consortium including SSG Group, Cofico, Fico and Sun Wah Properties Vietnam Company Limited, is in intensive preparations to be able to soon kick-start construction.

As designed, the nearly 6,000 square metre area will be turned into SSG Tower mixed-use complex with commercial quarters, office tower, hotel and luxury apartments.

SSG Van Thanh Joint Stock Company’s director Dang Chinh Nghia said the project’s site clearance basically finalised and construction of the mixed-use complex would possibly be kicked off in June.

SSG Van Thanh’s deputy director Nguyen Minh Tuan said construction would take place over three years at a total investment of VND903 billion ($43.6 million).

Besides Van Thanh mixed-use complex, SSG is the developer of several other hi-end property projects in propitious locations such as the Thao Dien Pearl luxury apartment complex project in District 2’s Thao Dien ward which completed construction of its first basement floor and Thanh Da Pearl project in Binh Thanh district’s ward 28.

Phu Long Real Estate Joint Stock Corporation - the developer of well-placed Dragon City project that spreads along North-South axis and Nguyen Huu Huan road - showcases its particular attention to ‘golden’ land areas in Ho Chi Minh City.

Deputy head of Phu Long Corporation’s business and marketing department Nguyen Du Truong Nguyen said ‘golden’ land areas would bring great added value to investors and these investment ventures would help the developers magnify their image.

Ho Chi Minh City Land Development Centre reportedly submitted to the city people’s committee a list of 18 land plots slated for auctions within 2011. The people’s committee also gave the green light to Ho Chi Minh City Planning and Investment Department’s proposal to offer six other well-placed land plots for auctions in the coming period.