Southern hub faces scarcity of truly super-luxury condos

April 06, 2020 | 08:00
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Slew of real estate projects in Ho Chi Minh City carry expensive value tag as applied to properties in hi-end segment, meanwhile truly premier condo projects in terms of design, utilities, service grade, and position, are scarce.    

What are the standards for premier condos?

According to the latest statistics from JLL, a prestigious real estate consultancy firm, Ho Chi Minh City is currently home to 26 condo projects in the high-end segment with prices from $,5000 per square metre. The projects are mostly positioned in districts 1, 2, 3, and Phu My Hung New City Centre.

When it comes to setting the grade for super-luxury apartments in Ho Chi Minh City, Dr Tran Nguyen Minh Hai, a real estate expert at Ho Chi Minh City University of Banking, said that currently, super-luxury apartment projects in the city mainly earn the label with their position and price. Such way of classification, however, lacks finesse and accuracy.

“A project labelled as super-luxury must satisfy a combination of stringent factors on position, architectural design, exclusivity, scarcity, residential community, common facilities, number of elevators, and the like. Right now, there are only a handful of projects on par with these standards in the city,” Hai opined.

First, super-luxury condo projects need to be located in central business districts like District 1, “elite” areas with perfect infrastructure conditions, serenity, and lush greenery like Thao Dien and Binh An wards in District 2, or Phu My Hung New City Centre.

The high-end condo projects are mostly positioned in districts 1, 2, 3, and Phu My Hung New City Centre.

Second, at upscale condo projects, to ensure privacy for citizens, the developers limit the number of apartments not only at each project, but also on each floor. Moreover, several developers have even designed small alleys near nice gardens, leading to the entrance of each apartment.

Third, unlike luxury or medium-range apartment projects whose design augment the commercial area, apartments in the super-luxury segment are designed to elevate the living experience. Almost 100 per cent of these apartments possess two to four light-receiving surfaces, ensuring cool and airy environment for the whole apartments plus providing wonderful city view.

Fourth, apartments at premier condo projects in Vietnam often have their own elevators and lobby, meaning that their prospective residents will not have to wait on overloaded elevators during peak hours.

Last but not least, these super projects feature a full suite of utilities, such as having green trees, water surface, library, swimming pool, and walking pathways, just to name a few.

First-of-its kind super-luxury project coming on stream in Ho Chi Minh City

Sunshine Venicia, a super-luxury condo project in District 2 of Sunshine Group – one of Vietnam’s leading real estate developers – will be introduced to the market in April. This is the group’s most premier development in Ho Chi Minh City.

southern hub faces scarcity of truly super luxury condos

Sunshine Venicia is part of Binh An deluxe village that is famous for its upscale villa complexes and is an ideal location for the development of high-end real estate in Ho Chi Minh City. This is also the so-called “billionaire town” with hundred-million-dollar villas nestled amid lush greenery and seamless internal transport system.

Furthermore, the area features fresh, serene, and the most romantic living space in Ho Chi Minh City close to Saigon River and opposite to iconic building Landmark 81 and Vinhomes Central Park.

Sunshine Venicia only offers a limited supply with 245 condominiums with impressive design that is unique to the entire southern real estate hub. Each apartment was styled after the lily – a symbolic flower of Italy – with the pistil serving as the common living area and each petal being a functional room – each separated by rows of wonderful gardens. With this design, all the functional rooms are like separate oases amidst romantic and peaceful gardens.

southern hub faces scarcity of truly super luxury condos

The corridors of Sunshine Venicia are like winding pathways dotted with fantastic flower gardens, with photo galleries on both sides. Along the corridor, each apartment at the condo project is being connected and separated from the beautiful garden by little, yet romantic little alleys leading up to the entrance. This design is a far cry from the usual row-house and terraced villa designs in Ho Chi Minh City where entryways line up next to each other.

Also, Sunshine Venicia architects kept the privacy of each resident at the top of their mind at every step. Each floor at Sunshine Venicia houses a limited number of apartments, averaging two apartments each floor with separate elevator for each apartment.

southern hub faces scarcity of truly super luxury condos

More than that, Sunshine Venicia represents beautiful Italy in all details, from sunny lemon and grape gardens, endless lily gardens, and Renaissance-style water fountains to slightly-curved, charming small alleys decorated with rose pedestals.

The podium is home to various boutique coffee shops, spa, and restaurants under the main lobby’s splendid European-style arch and art galleries. Notably, the whole project is shielded by anti-UV glass and powered by 4.0 technologies, and most interiors and equipment will be imported from EU.

By Ngan Ha

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