Archive | April, 2009

Construction update – April 2009

30 Apr

Hyatt Regency Danang Residences

25 Apr
Hyatt Regency Danang Residences is an exclusive beachfront development of luxury residences and a 5-star resort that will transform Vietnam’s Central Coast.

Ideally situated on an unspoiled stretch of beach, voted by Forbes Magazine as one of the world’s ten most beautiful, Hyatt Regency Danang Residences offer an unrivalled opportunity to invest in Vietnam or live in your own waterfront property.

With sweeping views of the South China Sea and bordered by the iconic Marble Mountains, this exclusive beachfront resort and residential complex developed by Indochina Land and managed by Hyatt Hotels & Resorts™, comprises three components – a 5-star resort, 174 luxury condominiums and 27 luxury three-bedroom villas.


Located midway between the UNESCO world heritage site of Hoi An and Danang’s international airport, the development will solidify Vietnam’s central coastline as Asia’s next great beach destination.

Hyatt Regency Danang Residences feature direct access to 25km of flawless beach and embrace the beauty of a region that is already home to the multi award winning Indochina Land developments, The Nam Hai and the Montgomerie Links Vietnam 18 hole championship golf course.


The architects, RMJM of Singapore, have strived to create a resort that is contemporary yet founded on the rich built culture of the Marble Mountain district. The design acknowledges the history, topography, culture and climate in its resolution of modern rhythms with traditional nuances.

The development features direct access to 25km of flawless beach in a region which is already home to the multi award winning Indochina Land developments, The Nam Hai and the Montgomerie Links Vietnam 18 hole championship golf course. It is in close proximity to Danang’s international airport, the iconic Marble Mountains and three UNESCO world heritage sites including Hoi An Ancient Town, My Son Sanctuary, and Hue’s Citadel and Imperial City.

The Residences

The condominium buildings range in height from 6 to 12 floors. The staggering of the volumes is articulated in different façade treatments, with exposed, glass units where the façades pull back and more sheltered units where the buildings extend out. Virtually all units offer ocean views, with a few ground floor units enjoying private garden settings.

To the south of the hotel are 27 beachfront villas, each with three bedrooms, a private pool and garden with an outside covered lounge area. All the villas are elevated to provide a superior vantage point to the sea.

Floor plan

The 174 luxury condominium units feature a diverse mix of one to three bedroom unit offerings, ranging in size from 75m2 one bedroom units to the 224m2 penthouses.

The 27 oceanfront villas feature three bedrooms and similar floorplan configurations, with approximately 275 m2 of enclosed space. Varying plot sizes from 450 – 680 m2, placement and ocean proximity distinguish between the villa unit offerings, giving each unit its unique character.


Sydney-based interior designer, Diana Simpson Design, tastefully captured local cultural influences in a contemporary design of furniture, soft furnishings and art pieces to create a modern sea side ambiance with subtle contemporized Asian design elements.

The original design concept focused on the 5 traditional elements of fire, water, earth, wood and metal. This has been subtly reflected in the use of natural stone, timber, aqua green accents in soft furnishings, fired bricks, local pottery, metal artifacts and sculptural works.


The Resort will cater to the same exclusive market segment of discerning travellers to Asia who are seeking out top tier getaway destinations, but with more inclusive family-oriented amenities. The Resort will offer guests numerous on-site facilities including an extensive array of food and beverage outlets, a world class spa, conference and function space, in addition to a wide variety of recreational amenities such as tennis, squash and racquetball courts, fitness and children’s centres, swimming pools and preferred access to Indochina Land’s nearby Colin Montgomerie Signature Links Golf Course.

Spa: A luxurious spa facility unique to the resort with treatment rooms typical of submerged shelters built along a central canyon-like gallery. Filtered sunlight through modern landscaping creates the aesthetic of being an entirely different world.

Golf: Montgomerie Links Vietnam, designed by eight time European Order of Merit Winner- Colin Montgomerie, is the first Championship layout in the region, offering breathtaking scenery and extensive club facilities.

Conference: An ideal facility for both large scale and intimate conferencing. The 500 square metre banquet hall will provide world- class facilities making the hotel a premier international conferencing and incentive destination.

Dinning: Hyatt Regency Hotels are world renowned for extraordinary restaurant designs and innovative mastery of local cuisines. The resort will offer a wide range of enticing culinary and dining options including Vietnamese and International restaurants, a Lobby Café and Pool Bar.

The Team

The Hyatt Regency Danang is being developed by Indochina Land, the real estate division of Indochina Capital Corporation and a leading real estate developer in Vietnam with approximately US$1.2 billion of projects under development/management.

The Resort will be managed by Hyatt International–SEA Ltd., an indirect subsidiary of Hyatt International Corporation, and branded as a Hyatt Regency Resort. The Hyatt Regency brand, is an internationally recognized brand with a global reservation system. Hyatt has 750 hotels and resorts worldwide, approximately 50 of which are located throughout Asia.

The Resort is being designed by an accomplished team of international designers led by RMJM, a highly esteemed global architecture firm, in collaboration with Australia-based interior designer Diana Simpson Design and landscape architect Site Concepts International (SCI).

For further information, please contact:

Indochina Riverside Towers – 3rd Floor – 74 Bach Dang Street,
Hai Chau District – Danang, Vietnam.
Hotline: +84.4.3946 1666 – Email:


23 Apr
MIPEC TOWER is a mixed-use project comprising of high-end apartments, office space and a retail shopping mall located at 229 Tay Son, Dong Da District, Hanoi.

When completed, MIPEC TOWER will be a new landmark in Hanoi and will mark a new era in living, design, comfort and lifestyle.

Situated on a 2,4 ha of prime real estate, MIPEC Tower consist of two 27-storey residential towers and a 25-storey office tower, all linked together by a 5-storey shopping podium.

Designed by Finenco Architects from Italia, MIPEC Tower is a symbol of modern architecture and will become the focus of this bustling part of the city.

Each apartment at MIPEC Tower offers high quality finishes, fittings and equipments reflecting a modern lifestyle in an oasis in the middle of the city.

MIPEC Tower provide a diverse range of apartment size ranging from 83 sqm to 225 sqm, with 2 to 4 bedrooms from 6th floor to 25th floor. 12 duplex penthouses on the 26 – 27th floor provide the ultimate in luxury living with area reaching nearly 500sqm.


MIPEC Towers offers full facilities for residents. Enjoy the best living place designed for you and your family. The facilities include: modern sports center, swimming pool and garden, bars and restaurant, full security.

The facilities include:

Modern sport center
Swimming pool and garden
Recreational entertainment, bar and restaurant
Full security and daycare service

For more information, please contact: Savill – 1900 5555 98.

Office rent in Hanoi declines in Q1

20 Apr
Office rent in the capital city of Hanoi witnessed a continuing decline in the first quarter of this year, said CB Richard Ellis Vietnam Company (CBRE).

In a report released last week, CBRE said that grade A office rent dropped 8% to US$49 per square meter compared to late last year. Meanwhile, grade B saw 5% drop to US$33 per square meter.

Due to financial problems, customers paid more attention to grade C office buildings mostly on Nguyen Phong Sac Street in Cau Giay District. CBRE said that Hanoi may have some 100,000 square meters more of grade A and 13,000 square meters more of grade B office space this year.

* Luxurious housing projects in the capital city has also reduced by 4% to 8% in prices, even 20% or 30% in the first quarter due to negative impacts of the global economic crisis.

Property trading in Hanoi has also declined, especially at the high-class projects. However, CBRE said that the projects may see stabilized prices within the next two or three years as supplies will stay low.

House rental charges have also decreased by between 3% and 20% against the last quarter of 2008 due to competition among investors.

CBRE said that the demand for rental service will come down in the coming time as multinational companies will carefully consider development plans and tighten budgets due to the economic crisis. As a result, local investors should improve their services or launch a variety of products to meet customer demands.

By Ngoc Lan and Thoa Nguyen – The Saigon Times

Paragon Tower

14 Apr
Paragon Tower is a mix-use of office and type-A apartment for rent was built in the Cau Giay District, Hanoi, near the intersection of Xuan Thuy – Pham Hung. This is a large scale, imposing match with the major axis on the street.

More pics here

Total land of planning of the project is 8,197.00m2 with total floor area built around 114,000.00m2. Design of buildings is by the DP Architects company of Singapore to the idea of “The Tree”: core structure of the building work as a body supporting the dispersal of the leaves is not the function of process. When completed, Paragon Tower will shown the desire is not only to create the beautiful, modern, effective, but also bring urban space of a meaningful and friendly the environment.

Estimated building will be started in 2009 and completed after 3 years of construction with total investment over 125 million U.S. dollars.

For more information, please contact:

Thang Long Investment and Commercial JSC
Floor 3th, Pacific Place, 83B Ly Thuong Kiet Str. – Hoan Kiem Ward – Ha Noi
Telephone: 84.4.3946 0310 – Fax: 84.4.3946 0320.

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

Press Release: Phu My Hung Corporation officially introduced the CRESCENT and appointed SAVILLS to be sole leasing & management agent for the project

9 Apr
Ho Chi Minh City, April 9th, 2009 – The Phu My Hung Corporation unveiled The Crescent on April 9th 2008. On this occasion, the announcement that Savills Vietnam was appointed as the sole leasing and management agent for the entire development was made.

The project, located in the new financial and commercial district of Phu My Hung in District 7 will total a size of 150,000 sq m in its first phase and will cost US$ 200 million of investment.

The Crescent will comprise of approximately 300 premium serviced apartments, 10,000 sq m of international standard office space, 22,000 sq m of waterfront retail space opening from July 1st 2009 and in addition, a regional shopping mall of 45,000 sq m, the first of its kind in Vietnam starting construction in July 2009.

The community will experience the unique elements of “The Crescent” that will create a central Lifestyle precinct in the heart of District 7, providing a lively and welcoming meeting place.

Combining the preserved landscape of the banks of the Crescent Lake and the modern streetscape of a contemporary high-class development, The Crescent brings to Saigon South a destination that embraces the heritage and character of the existing lake and offers the latest in working, shopping, entertainment, dining and living choices for current and future generations to enjoy.

“I have witnessed first hand the growth of Phu My Hung and the aspirations of people wanting to live and work in Phu My Hung. Completion of the Crescent and Crescent Mall will further enhance the area and offer further confirmation that PMH is the number one place to live, work, shop and play.” said Rupert Provest, Head of Leasing for Savills Vietnam.

The apartments are designed with a wide range of layouts from 1 to 4 bedrooms that can accommodate the needs of a wide array of residents from the families to the young couples and single executives. An exclusive fitness centre, 2 swimming-pools, squash courts and gardens will contribute to making living in the Crescent highly desirable.

In addition, there will be over 210 specialty stores, an array of restaurants and cafes, offering both indoor and alfresco dining, an 8 screens Cineplex, over 3,000 sq m of entertainment areas and a range of community spaces such as the Starlight Bridge and the pedestrian waterside boardwalk, which provides a place to relax and escape.

This unique setting will host not only seasonal, sportive and cultural events of the community but also commercial events from the shopping mall.

“The Crescent will come to life with an action-packed program of events. The yearly calendar of celebrations will include something for everyone, from fashion parades to flower exhibitions, dance events and ‘Movies in the Square’ for the whole family to enjoy.

“It is very exciting to be involved in the first true international shopping mall and entertainment venue of Vietnam. Savills having managed and been involved in numerous retail projects across the region, we are excited to see this project coming to life in this vibrant retail market” said Brett Ashton, Managing Director for Savills Vietnam.

About Phu My Hung

Established on 19th May, 1995, Phu My Hung Joint Venture Company was joint by Tan Thuan Industrial Promotion Company (IPC Vietnam) and Central Trading & Development company (CT & D – Taiwan).

IPC: represents for Ho Chi Minh City People’s Committee, contributing 30% to the fund, by land-using right and human resources for Phu My Hung’s development. CT&D: one of the biggest and the most successful foreign investor in Vietnam with the capital investment of over $650 million in three considerable projects: Phu My Hung new urban town, Tan Thuan EPZ (Export Processing Zone) and Hiep Phuoc Power Plant. CT & D contributes 70% in the Phu My Hung new urban town.

With main function is building the ten-lane Nguyen Van Linh Boulevard (a road with total length and width approximately 17.8 km and 120 meter respectively) as well as building the Phu My Hung new urban town along the road, Phu My Hung has contributed to reducing the population density in inner-city areas.

About Savills

Savills is a leading global real estate service provider. The company, established in London in 1855, has a rich heritage with unrivalled growth. Savills now has over 200 offices and associates through out the Americas, Europe, Asia Pacific, Africa and the Middle East. A unique combination of sector knowledge and entrepreneurial flair gives clients access to real estate expertise of the highest calibre. Savills is regarded as an innovative-thinking organization which offers a premium service to developers, investors, owners and occupiers. Savills Vietnam is the largest and most experienced provider of real estate services in the country with 370 staff and has been operating in Vietnam since 1995.

Savills Vietnam offer services across three major platforms: consultancy, agency sales and leasing and property management.
Quarterly Research Reports
Market Studies
Development Recommendations
Feasibility and Pre-Feasibility Studies
Valuation – General and Mortgage
Due Diligence
Investment Advisory – Sales and Acquisitions
Tenant Advisory and Representation
Industrial Consultancy
Retail Consultancy
Residential Sales
Residential Leasing
Commercial Leasing – offices, retail, industrial
Property Management