Condotels to flare up with legal fine-tuning
March 24, 2020 | 11:55
With the tourism real estate market almost frozen after the collapse of luxury resort project Cocobay and the harsh impact of COVID-19, good news has come recently in the form of a new document issued by the Ministry of Natural Resources and Environment meant to guide the land use regime and ownership certification of non-residential construction works.
Cocobay calamity brings condotel pitfalls to fore
December 05, 2019 | 12:30
Condotel project Cocobay Danang – a tourism complex which features footballer Cristiano Ronaldo in its advertising – suffered a PR disaster last week as the developer reneged on its 12 per cent profit commitment, shedding doubt on the promises of other condotel schemes trying to attract second-home buyers with expectations of high profits. Ngoc Huong reports.
Fulfilling the potential of the risky condotel market
December 05, 2019 | 10:00
In light of the Cocobay Danang situation, in which contracts are not being honoured due to unrealistic expectations being placed on the condotel model, Mauro Gasparotti, director of Savills Hotels APAC, writes on his expectations of the condotel market in Vietnam, and what solutions could be found to ease the situation.
Cocobay added to Danang DoC’s black list 1
May 03, 2018 | 18:33
Cocobay complex, home to Cocobay Towers where football legend Cristiano Ronaldo registered to buy a condotel, is the latest name on the list of projects without a construction permit in the central city of Danang.
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