IndochinaPlaza Hanoi moves towards completion

According to Indochina Land, developer of the Indochina Plaza Hanoi (IPH) complex, IPH was on schedule to host the soft opening of the retail podium in January 2012, and to complete the residential towers by this December for handover to the residents.

The office tower, which topped out in last December, is scheduled to begin handing over for fit out to commercial tenants in this November.

To date, IPH has transacted over $72 million in residential sales since launching in November 2009, and Indochina Land and Savills remain confident the project will continue to be successful. Sales for both residential towers have been strong, with only 30 per cent out of total 390 units currently left for sale in the East and West Towers.

Since October 2010, IPH has contracted 75 sales, outpacing any other high-end condominium project in Hanoi and proving that the market will continue to respond well to a high quality product.

Michael Piro, director of sales and marketing for Indochina Land, said: “Since October 2010 we have continued to achieve excellent sales absorption and have easily been able to adapt our strategies as the market trended towards end-users and moved away from investors and speculators.”

The IPH’s 17,500sqm retail area was filled up to approximate 45 per cent.

Peter Ryder, managing director of Indochina Capital - parent company of Indochina Land, said: “At Indochina Land, we strive to offer more than a home, we offer a commitment to delivering quality residences and unmatched lifestyles. Indochina Plaza Hanoi embodies these guiding development principles as we will deliver a Grade A projects at affordable price points, offering tremendous value to our homeowners.”

“As construction has continued to advance at a record setting pace, we are now moving our sales office into the seventh floor of the IPH’s East Residential Tower. We encourage anyone interested to come view our finished condominiums and experience firsthand what sets us apart from our competition,” said Ryder.