Even though most apartment projects are failing to lure buyers at the price of less than VND20 million a square meter, several project owners in the city’s center are still presenting their luxury products with each square meter worth up to hundreds of millions of Vietnam dong.
The Saigon M&C building located at the corner of Ham Nghi and Ton Duc Thang streets is for sale at about VND150 million per square meter, or US$7,500. The 42-floor building when complete will provide a six-storey commercial center, 40,000-square-meter office area and 133 high-end apartments.
Similarly, apartments of the Vincom Center on Le Thanh Ton Street in downtown area are priced on the secondary market from VND164 million a square meter, equivalent to US$8,000.
Meanwhile, C.T Group said it would continue marketing the Leman apartment building which is still under construction on Nguyen Dinh Chieu Street in District 3. The realty developer last year had succeeded in selling small numbers of condos of the same project in two separate offers.
When in place in the first quarter next year, the 24-storey building will offer an additional 12,000 square meters for retail spaces and 230 more luxury flats to the housing market, with one square meter worth from VND90 million.
Not far from this incomplete project is the Saigon Pavillon on Ba Huyen Thanh Quan Street. It has just been accomplished with 95 flats priced from VND86 million a square meter.
Chairman Tran Kim Chung of C.T Group said his company opted for releasing the luxury condos step-by-step in a bid to secure the project’s value, with only 14 flats joining the market every time.
Chung said he expected his company would still be able to attract target clients who are end-consumers in the current economic slump with unchanged prices.
The Saigon Times Daily