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The largest commercial center in Phu My Hung opens

30 Nov
VNRE - Today, Crescent Mall Commercial Center (Nguyen Van Linh Boulevard, District 7, HCMC) opens its doors to welcome visitors and shopping with over 100 booths.

The center was invested by Phu My Hung with investment funds about 2,310 billion VND. Retail area is larger than 45.000m 2, has six floors, including eight cinemas, a food court 1,000 seats, fashion shops, furniture shops, game – entertainment…
Crescent Mall is the largest commercial center in Phu My Hung. Shopping space inside is quite broad, beside the wide green lawn thousand square meters, creating a quiet space for families combine shopping, entertainment and leisure,… There is free bus services to take customer from District 1 to District 7, free parking, free entertainment for families at the weekend include: children choir, music, break dance, magic…

Previously, Phu My Hung has about 60,000 m2 for retail services, with two major commercial centers: Parkson Paragon (19.000 m2) and Thien Son Plaza (20,000 m2); three large supermarkets: Co.opMart, Citimart, Fivimart along with about 200 convenience stores, mini supermarkets, restaurants, food services, entertainments…

Chateau Villas – The glory of life

27 Oct

VNRERecently, Phu My Hung Corporation said in mid-November 2011, the company will bring to market Chateau Villas phase 1 with 47 products including 35 single villas and 12 garden villas. This is the 85th project to be deployed in urban area, bring the total floor area of the building in Phu My Hung, District 7 to nearly 2 million m2.

Chateau Villas is built on an area of 116.538m2, the rate of construction just over 19%, the land use coefficient is 0.53, total floor area of about 62.000m2 and is divided into three phases. Phase 1 of the project is deployed on land area of 55.454m2 but only 16.66% of land for construction, land use coefficient is 0.37.
The decisive design concept of the project is based on natural advantages available such as green plants, water and landscape.
The overall design of Chateau is styled “garden in garden”, “garden hidden in garden” with first green floor is a private garden in each villa, with area from 280-540m2 for single villas (land area of 510-770 m2); from 84-177m2 for garden villas (land area of 187-294m2).
Chateau Villas has also open green space of about 25.000m2 and many amenities include a swimming pool, tennis courts, clubs… very handy for the owner of Chateau use.

Starlight Bridge

24 Jan
Designed by Gao Ge Company (China) and built by Sino- Pacific, Starlight Bridge, 170m long, 8.3m wide, developed by Phu My Hung Corporation across Thay Tieu arroyo links Canal District and The Crescent. With nearly capital investment of VND 50 billions, it has been the most modern and most beautiful pedestrian bridge in Vietnam.


Harmonizing surrounding environment, Starlight bridge which meets both communication and sight requirement brings visitors a feeling of carefree and happiness when wandering this bridge.

With a system of LEDs lights on the bridge surface, illuminated waterfalls, Starlight Bridge is like an outstanding light line connecting Canal District and the Crescent in the night. When walking on the bridge, visitors feel like they are wandering in the galaxy.

Besides Starlight pedestrian bridge, Cau Tieu 2 bridge for vehicle has being built. Both are estimated to complete on 24/02/2010.




Investor: Phu My Hung Corporation

Riverpark Residence – A Modern Waterfront Community

9 Jul

There are few sites to remain in the Hillview district of Saigon South (Phu My Hung New City Center). One of the most prominent locations between a main public park and the scenic river will be now developed into a high-class mix-use property with shopping arcades, podium spa areas and residential towers.


Modernly designed by Korn Architects (Germany/Vietnam), Riverpark Residence residential project is built on a 16.747sqm land parcel, of which the land for construction is 6.799sqm (constructed density equivalent to 40,6%), the green and open space occupies 9,948sqm of land (equivalent to 59,4%). Total construction area is 59,954sqm. The residential complex includes 3 mixed-use towers from 13~26 floors, with 290 apartments from 123sqm ~ 533sqm in size and 14 shops ranging from 138sqm ~ 486sqm in size. There are plenty of parking spaces for the apartments arranged on 3 levels: B1, GF and Level 2 with 336 car parking spaces and 795 motorcycle spaces.


Strategically located in the middle of the well-developed Hillview District, adjacent to the pristine scenic river and a charming lush tropical park, Riverpark Residence is a state-of-the-art architecture with contemporary amenities blooming into the natural beauty.

HEALTHY LIVING IN HARMONY WITH NATURE

Living in harmony with nature, well-cared environment, on-site amenities … are distinctive advantages of Riverpark Residence for your healthy living.


Grand open main lobbies for each tower communicate openness and modern elegance. The lift lobbies on the apartment levels have windows and natural through-ventilation. Building services are state of the art with advanced fire fighting systems, imported elevators and pool equipment.


As a retreat and place of relaxation each of the two phases of the project features a lush tropical garden area with a lagoon pool, café and gym as well as generous playgrounds for children on a podium level. A daycare center caters for the smaller kids. Both pools are facing the scenic river. The pools have a 25m lap area as well as a separate shallow children zone. Next to the pool a Jacuzzi with spa-massage function is open to all residents. The public podium also features 2 “tea houses”: covered areas with seating and meditation garden..


The project features a lush tropical garden area with a lagoon pool, café and gym as well as generous playgrounds for children on a podium level

Strategically located between the scenic river and the urban park in the well-developed Hillview District of Phu My Hung New City Center, Riverpark Residence provides a modern lifestyle in harmony with nature.

Riverpark Residence apartment will be sold from July/2009.

More information, please contact:

Phu My Hung Residential Sales Office
Tel: 84.8.5411 8888 – Hotline: 091 670 9085.
Email: sale.phumyhung@gmail.com.

Saigon Paragon

27 Jun

Grand Opening Ceremony: June 27th, 2009.

With 7,500 sq.m, Saigon Paragon is located in an International Trading and Financial Center at Nam Saigon. This is a 4,000 sq.m comfort entertainment, 9000sq.m office for lease and 3,000 sq.m for holding comference. In detail, the property comprise 10 floors in which 1-4 floor is fashion & beauty, digital lifestyle, art & life; 5-floor is entertainment space, 6-9 floor is space for every significant project and 10-floor is for the art of dining. This also the first luxury shopping malls at Nam Saigon and will be opened on first quarter of 2008.

Location:

Saigon Paragon is located in the new urban center, Saigon South, which is considered to be the most rapidly developing location in Vietnam. Saigon Paragon, for which transportation system will become full operational with one year, is becoming a new cultural and economic center in HCMC. It is very easy to reach to Saigon Paragon from the city center. It takes only 10 minutes to travel from Ben Thanh Market across Kenh Te Bridge to Saigon South. From District 5, one need only cross the Nguyen Tri Phuong Bridge. Finally, the Phu My Bridge, connecting district 2 to district 7, will provide a final gateway to the paragon. It will begin construction at the end of year.

Saigon Paragon provides its own unique fresh atmosphere and sense of tranquility without making one feel out of place or stuffy. Saigon Paragon always retains its ebullience and sense of development.

Architecture:


An architectural project created by the well-known Japanese architectural firm, Katsuki Design, the Paragon is a new masterpiece. Embracing the simple and clean elegance of the time-honored, Paragon is an oasis of green trees and fresh air breezeway. This tropical oasis provides a calming and perfectly balanced environment for both business and pleasure.

Paragon is a magnificent, composite structure created by the intelligent combination of boldness, invention, labor and investment. This analogy, however, is sorely lacking because it does not consider the value and exquisite beauty of the land on which it has been showcased.

Architecture of Saigon Paragon is classically designed to bring together all of the most well-known trademarks of fashion, cosmetic, health care, and business. The dynamic economic group of Vietnam will find it the ideal location for their continued development and expansion.

Phu My Hung, a glimpse of the bright future of Saigon South to come, has now added an attractive economic and trading paradise with the presence of Paragon Saigon.


Interior:

Inspect the inner workings of the modern art world where it meets the stamp and seal of the antique European Palace. The latest technological conveniences come together with an elegant and traditional style that can satisfy even the most discriminating taste. Success is assured in this perfect Paragon of both function and design. And it is certain that with a firm base of business, your dreams and aspirations will be more readily realized.

Paragon Corporation
Unit 701, 7th Floor, Saigon Paragon Building
3 Nguyen Luong Bang, Tan Phu Ward, Dist. 7, HCMC
Tel: 84-8-54135 165 – Fax: 84-8-54135 166
Email: sales@saigonparagon.com

PMH picks Savills as manager for luxury property project

14 Apr
Phu My Hung Corporation (PMH) on Thursday announced a luxury property project in HCMC’s District 7 and chose Savills Vietnam as a sole leasing and management agent for the project.


The corporation said it had poured US$200 million into the first phase of The Crescent project, which covers some 150,000 square meters in the new financial and commercial section in Phu My Hung new urban town.

As designed, The Crescent will have some 300 serviced apartments, 10,000 square meters of international standard office space, 20,000 square meters of waterfront retail space, and will be up and running by early July this year. It will include a 60,000-square-meter regional shopping mall on which work will begin in July this year.

The project developer said that the entire project was expected to be completed by late 2010 with total investment capital of around US$400 million.

PMH said that when in place The Crescent would bring to Saigon South a destination that embraces the character of the existing crescent lake and offers the latest in working, shopping, entertainment, dining and living choices for present and future generations.

They also include 210 stores, restaurants and cafes offering both indoor and alfresco dining, an entertainment area with eight screen cinemas, community spaces such as the Starlight Bridge and the pedestrian waterside boardwalk.

Speaking at the introduction ceremony at Lawrence S. Ting Building in District 7, Brett Ashton, managing director of Savills Vietnam, disclosed that rent for the serviced apartments would start from US$1,800 per apartment per month. The apartments are designed with one to four bedrooms.

The management company said that rent for retail space would range from US$25 to US$80 per square meter per month. However, office rent has yet been announced.

The company said guests could come to see model apartments and offices late this month, and that there were customers registered for serviced apartments and retail spaces.

Ashton said it was exciting to be involved in the international shopping mall and entertainment venue of Vietnam, and that Savills had managed and been involved in numerous retail projects across the region.

Jeremy Helsby, group chief executive of Savills plc, who has just come to Vietnam to meet his people as well as to support business, said Vietnam had a lot of potentials in real estate.

In terms of profit margin Vietnam is one of the best countries in Asia contributing a good profit to the global business of the group, Helsby told the Daily. However, in terms of the size of business Vietnam is a small country as compared to others in the region.

Source: The Saigon Times

The margin narrowed

10 Mar
“Choose the right price” is a popular local television game show. Joining the game, the player is challenged to identify the exact prices of consumer goods such as shampoos, kitchen wares, perfumes and beverages among others. Although the player gets hints from the audiences at the studio before giving a final decision, they often miss chances to be the winner of the game. The property market is just like that if it comes to looking at the apartment segment. The real prices of apartments are challenging the homebuyer to guess.


The apartment prices are on the decrease under the pressure from dampened sentiment. Some project developers have begun slashing selling prices of apartments. Some say this is the right time to grasp the opportunity while others claim that such declines have yet to reflect the real prices, so they will continue for some time.

Margins narrowed

After a long period of overheating, the property market has been experiencing the fallout from the past credit crunch and then the economic slowdown, with land and housing prices taking a nosedive. Some property firms have been making efforts to pull themselves of the blues.

Several weeks ago, HAGL Land stirred up the quiet market with a surprise announcement by slashing prices of apartments by a stunning 40% to attract potential buyers. Some 500 apartments of the two apartment projects including Hoang Anh Riverview in Thao Dien Ward in District 2 and Phu Hoang Anh in HCMC’s Nha Be District were on the promotion list.

Back to 2007 when the property market was seeing prices running wild, HAGL Land quoted Hoang Anh River View apartments at US$2,300 per square meter and Phu Hoang Anh ones at US$1,800. However, until recently the prices have slid to as low as to US$1,350 and US$1,250 respectively. Explaining the huge price cuts, the company said prices of building materials ware falling, coupled with the low prices the company enjoyed when acquiring land for the projects.

Following HAGL Land, Dat Xanh Real Estate Company has been running an advertising campaign for its SunView Apartment in Tam Phu Ward in HCMC’s Thu Duc District. There are 200 apartments put on sale with prices slashed to US$764 per square meter from the US$1,300 a year ago.

In another project, Daewon Hoan Cau Housing Development Joint Venture Company is offering a price of US$2,000 per square meter for the Cantavil Hoan Cau project on Dien Bien Phu Street in HCMC’s Binh Thanh District. This is the project which sparked a controversy several months ago as a property service company released research results showing a considerable decline in prices in the project. A representative of the Daewon Hoan Cau denied it, saying such information threw the company into a difficult position.

Commenting on the most recent apartment price reductions, Le Tham Duong, head of the Administration Faculty of the HCMC Banking University, said it was just an excuse. Property companies said they were supporting the Government’s economic stimulus program, but in fact, they have no choice but to lower prices to either recoup capital or restructure their investment portfolios, he said. Slashing prices, Duong said, is the wisest decision under the current circumstances and they have to narrow their expected profit margin to survive troubled times.

Financial woo

To some extend, the fall in prices of apartments is sending out a positive signal to the market as there are many transactions reported in the last few weeks. However, this would not have happened if there had been no promise of financial support from banks. Most of the projects that are on the price promotion rampage have got pledges from banks to offer loans worth at least 70% of the value of an apartment.

For example, Sai Gon Thuong Tin Real Estate Joint Stock Company (Sacomreal), which is distributing some 300 Hoang Anh Riverview apartments, is supporting the homebuyer with loans from Sacombank, Vietcombank and Bank for Investment and Development of Vietnam (BIDV), with repayments to be made for 10 to 20 years.

Phu My Hung Corporation (PMH) early this month started selling apartments in the Riverside Residence project at VND37 million per square meter. The company said 128 apartments were snapped up within one morning. Twelve banks were backing the company by providing loans up to 70% of the value of an apartment for the buyer. The term of loans is up to 20 years.

Besides prices, financial support is a vital condition for both project developers and homebuyers. With the market becoming busier in the last several weeks, some say the market is being warmed up, but others show a conservative attitude as prices of apartments remain high regardless of the most recent drops.

However, the current market conditions are still for a certain group of moneyed people since many people with limited finances but real demand for a home are still seeing the current apartment prices unaffordable.

Source: The Saigon Times
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