New milestones for Phu My Hung Corporation

Twenty years in the making, Phu My Hung takes pride in its use of the natural landscape

“Through 20 years of development, we’ve built a civilised city center in harmony with the surrounding landscape and areas, dominated by green trees, canals, and pools. Our mission is to continue building the works here to enable residents to live comfortably and enjoy the public benefit systems conveniently,” said Truong Quoc Hung, vice president of Phu My Hung Corp.

Phu My Hung has set a high standard for urban planning and development in Vietnam. Its development strategy embraces sustainable development, as the firm pledged in the beginning days.

Phu My Hung features improved urban planning carried out by a team of US and Japanese architecture companies - Skidmore, Owings and Merrill, Koetter Kim & Associates, and Kenzo Tange Associates.

The city center is the most prominent urban centre project in this mega-city. In late 2007, Phu My Hung completed Nguyen Van Linh Parkway, almost 18 kilometres in length and 10–14 lane wide linking the Saigon Port area and Tan Thuan Export Processing Zone, Districts 7,8 and Binh Chanh county  to National Highway 1 and the Mekong Delta. In November 2008, a brand new trade centre, Saigon Exhibition and Convention Center, also opened its doors. Residential projects have gradually been rolled out,  to provide houses and condos for over 25,000 residents so far.

Happy Valley is currently under construction and will include 818 condos in all. The latest project is also a landmark for Phu My Hung Corp.’s 20th anniversary.

During the launching event of the first phase early this March, the company welcomed interested customers to the Happy Valley. “Happy Valley is the first project of Phu My Hung in 2013. Therefore, we put the condo project in a good location, offer diversified condo sizes at affordable price for customers to easily choose their own houses,” said Hung. “Payments are extended to 30 months – the longest payment schedule for a condo project in Phu My Hung till now. It helps customers arrange their own finance plan.”

The company offered 163 Happy Valley condos for sales that day, and was smiling that 86 per cent of them were booked the same day, in stark contrast to the depressed property market. The selling prices started at VND30 million ($1,435) per square metre including VAT and land use right fees. Up to 15 banks are providing housing loans for Happy Valley condo buyers, including Vietcombank, VIB, BIDV and Bank of China.

Situated along Nguyen Van Linh Parkway and opposite the nine-hole Saigon South golf course, Happy Valley is designed with apartment buildings of 8-28 floors. The location is also close to the Crescent Quarter, Crescent Mall, Starlight Bridge, the International Commercial and Financial District, about 15 minutes to drive from District 1.

After Happy Valley’s first phase successful launch, the company plans a May 25 roll-out of another 165 condos in the second phase, most of the condos will be at buildings G and H with beautiful view.

Elsewhere in the District 7 township, the high-end Riverpark and Riverside projects are appealing to foreigners seeking to move in immediately.

The meticulously cared-for living space and quality are prime factors that make Phu My Hung’s residential quarters particularly appealing to the customers from different nations. The customers mostly come from the UK, the US, France, Japan, Korea and India. Another group of residents is Vietnamese from the city’s different districts.

Phu My Hung properties are currently home to over 25,000 residents, of whom the foreigners account for 48 per cent, or around 12,000 people. Associated facilities like schools, food shops and other life conveniences have brought conveniences to resident communities.

Foreign customers like Phu My Hung residences because, instead of leasing and paying monthly rental, they could pay in phases to become the real owners and the residence features great added values.