Monday, September 28, 2015

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Vinhomes project central to Ho Chi Minh City’s plan


Vinhomes project central to Ho Chi Minh City’s plan

Ho Chi Minh City is pushing forward with large-scale projects as part of its central development plan for 2020.

Vinhomes Central Park is being billed as the jewel in Ho Chi Minh City’s crown
This plan will focus on five different sub-areas of the municipal centre. Each sub-area will be developed according to its outlined functions or attributes, such as financial, trade, cultural, and historical areas, as well as the urban area along the banks of the Saigon river.

To deploy this new urban development plan, the city will relocate the inner ports of Tan Cang, Ba Son, Khanh Hoi, and Ben Nha Rong to outside the city’s centre. Following their relocation, the Ba Son factory will be transformed into a multi-functional complex of offices for lease, a financial centre, and a high-end hotel, while the Saigon port will be converted into a marine tourism area. Meanwhile, the Tan Cang port will house one of the most modern urban areas of Vietnam – Vinhomes Central Park.

The urban area west of the Saigon River – the riverside heart of the city
Located on the western bank of the Saigon River, this is a multi-functional sub-area, stretching from Saigon bridge to Tan Thuan bridge, and belonging to Binh Thanh district, as well as districts 1 and 4.
It is bordered by the Saigon bridge to the north, Nguyen Huu Canh-Ton Duc Thang road to the west, Nguyen Tat Thanh and Kenh Te road to the south, and the Saigon river to the east.
In addition to the plan to build a road alongside the Saigon river, this sub-area will become a new cultural, entertainment, and public space hub for the city.

Vinhomes Central Park – a benchmark property in the city
Vinhomes Central Park offers many advantages in terms of its prime location and its improved infrastructure.

Benefiting from a high-standard infrastructure system of new roads, bridges, and an urban railway, the area is serviced by the Thu Thiem bridge, the Hanoi highway, the West-East boulevard linking to the Long Thanh-Dau Giay expressway, as well as the Ben Thanh-Suoi Tien metro route. As evidenced by similar projects in Europe and the US, projects located next to urban railway systems have raised their housing price from 2 to 8 per cent.

The apartment buildings in Vinhomes Central Park are a magnet for many buyers due to their high-quality infrastructure system, high yield potential, and the prestigious name of the investor. In addition to the high demand from end users, many customers are targeting apartments for lease.
According to the latest research from CBRE Vietnam, the buy-to-let tendency has become more and more popular thanks to its high profit yields.

Gross rental yields in certain high-end condominium projects in the city’s district 2 and 7 are estimated by CBRE to be 6-8 per cent, while net yields are about 4.5-6.5 per cent.
The relaxation of foreign housing ownership limits, combined with promotional sales programmes offered by developers has reaped rich dividends since its implementation.
Vinhomes Central Park is developed by Vingroup – which has a multitude of projects nationwide, including multifunctional complexes in Hanoi, Ho Chi Minh City, Nha Trang, Danang, and other major cities nationwide.    

Vingroup’s brand Vinhomes was recently assessed as the most valuable brand in Vietnam by Brand Finance, a London-based brand valuation and strategy consultancy firm.

As a green, modern, and luxurious urban community in Vietnam, Vinhomes Central Park draws its inspiration from the world-famous Central Park in New York City.

It has a construction density of only 16 per cent, and devotes 14 hectares to parks, making it the city’s largest green space along the Saigon river.

With river-frontage stretching more than one kilometre, Vinhomes Central Park offers a green living area in the heart of Ho Chi Minh City which will act as the lung of the entire city. It consists of The Villas, The Central, The Landmark, and includes the iconic 81-storey building called Landmark 81 as well as The Park.

Tel: +84988060330 English. +84988060220 Chinese.

Kevin Vu

Author & Editor

A professional Real Estate Agent in Vietnam.

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