Saturday, October 20, 2007

Saigon building five 28 story condos with view of Sai Gon River

City gets set for suburban condo plan

(19-10-2007)

HCM CITY — The CapitaLand-Vista Joint-Venture Company yesterday announced that it would begin construction this year on a US$40 million condominium project on 2.4ha of land in HCM City’s District 2.

When completed in late 2010 or early 2011, The Vista in An Phu Ward will comprise five buildings of 28 storeys each, with 750 flats of 101sq.m to 472sq.m in size, including 14 penthouses.

Serviced apartments will be available for rent, according to general director Yoong Voon Sin.

With a view of the Sai Gon River, the building will offer residents a swimming pool, tennis court, fitness facilities, shopping area and green space.

The building will be near a Metro hypermarket and international schools.

The Vista is a joint-venture of Singapore-headquartered CapitaLand Holdings, which represents an 80 per cent stake, and two local firms, Phu Gia Investment Joint Stock Co and Thien Duc Construction Co, each with a 10 per cent stake.

An official of the foreign partner, Chen Lian Pang, said this was the first investment of his company in Viet Nam’s residential market.

The CapitaLand Group has now committed to four housing projects in HCM City in co-operation with several Vietnamese companies, with a total of 2,800 apartments and villas. — VNS