Who are the owners of luxury apartments in District 1? A view of The Grand Manhattan, a luxury apartment project in downtown HCMC The just-launched Grand Manhattan has become the center of splendor due to its luxury apartments being located in downtown HCMC, which are not easy to own. From international investors Elena Goh, a Singaporean real estate investor, is one of the first owners of apartments at The Grand Manhattan, “HCMC is a market my husband has eyed for ages. So we decided to purchase apartments as soon as the project was introduced to the market. Compared with other property markets which I have invested into such as Hong Kong, apartments in HCMC have a much lower price and profit margins reach 4%-5%, compared to Hong Kong’s 1%-2%.” As an experienced real estate investor, Elena Goh said, “In Hong Kong and Singapore, profit growth of luxury properties tend to be stable. I believe that profits from real estate projects in HCMC, which is an … [Read more...] about Who are the owners of luxury apartments in District 1?
Latham square apartments
Some apartments in Ho Chi Minh City are in the billions of VND to buy but many wind up disappointed when the quality is proven to be poor. Disappointment to live in “high-end” apartments More than 200 households in Hoang Anh Gia Lai 3 apartment block on Nguyen Huu Tho Street, Nha Be District, Ho Chi Minh City, have recently denounced the investor, Hoang Anh Housing Development and Construction Company, for the bad quality apartments. The apartment prime price is VND15 million (USD769.23) per square metre and has even climbed up to VND30 million (USD1,538) per square metre. However, only one year after living in these apartments, residents have felt panic due to their quick degradation. Many owners said walls in their houses have become mouldy and cracks are found on the floor. The plywood has become bloated, making the doors unworkable. Although the affected families have brought up the situation with the investor numerous times, they have not yet received any … [Read more...] about High-end apartments in HCMC plagued with low-end problems
The People’s Committee of HCM City has officially turned down a project to build an apartment block offering homes measuring just 20 square metres. The People’s Committee of HCM City has officially turned down a project to build an apartment block offering homes measuring just 20 square metres. The project in District 1 was submitted to the committee by Dat Lanh Real Estate Company. The city turned down the proposal on the basis that it would lead to too high a concentration of people and put greater pressure on traffic and social infastructure. Earlier, the company proposed that the Ministry of Construction revise regulations on the construction of small apartments to match people’s demand. Director Nguyen Van Duc said up to 300,000 apartments had been offered in Hanoi and HCM City since 2004, excluding future supply. Most of them measured over 70 square metres each. However, these apartments failed to meet the demand of many people due to high prices. He … [Read more...] about HCM City rejects mini apartment project
At 10 am, the fire began to spread from the 22nd storey of the building on Ton Dan Street. — Photo Vnexpress HCM CITY (VNS) — Hundreds of residents at Copac Square Apartment in HCM City's District 4 fled to the street when a fire broke out in a 24-storey apartment building on June 23. No injuries or deaths were reported. At 10 am, the fire began to spread from the 22nd storey of the building on Ton Dan Street. Residents escaped by the stairwell. No injuries or deaths were reported.— Photo mothegioi Although the fire was extinguished at 10:30 am, many people were afraid to return home, and offices in the building were temporarily closed. Police are investigating the cause of fire, and will release a report on the estimated damage in the future. —VNS … [Read more...] about Fire breaks out at apartment building in HCM City
Apartment customers are facing a lot of risks and being placed in an awkward situation recently in Ho Chi Minh City. Nguyen Ngoc Canh living at 18/53A, Nguyen Duy Road, Ward 3, Binh Thanh District claimed to Hong Linh Investment & Construction Joint Stock Company, the investor of Hong Linh Plaza Apartment Building, that his apartment area had been inexplicably cut by 13.9 square metres. Under an agreement with the investor, Canh’s apartment was supposed to have three bedrooms and cover 96.9 square metres. However, when Hong Linh Company asked Canh to pay money in December 2009, he was informed that his apartment area would now be 83 square metres because the design had been changed. Canh said that he was not informed about designing amendment, nor his apartment area reduction, yet he was still forced to pay the same amount of money in accordance with initial agreement when his apartment was supposed have 96.9 square metres. Dinh Thi Hoa, living at District 4, was in … [Read more...] about Apartment customers not getting what they paid for