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Tan Hoang Minh Ahead With Project Amid Gloom

Despite grim times in the real estate market, Tan Hoang Minh Group is planning to start three luxury projects in in Hanoi next year.

The projects include The D’ San Raffles, located on Hang Bai street, Hai Ba Trung district

Do Anh Dung, chairman cum general director of Tan Hoanh Minh, said the three projects had been carefully prepared for a long time and 2013 would be the right time for company to start.

The projects include The D’ San Raffles, located on Hang Bai street, Hai Ba Trung district, one of the most busiest streets in centre of Hanoi. In an area of more than 4,000 square metres, Tan Hoang Minh plans to build a multi-functional building of trading centre, office and apartment for lease.

The second is The D’ Le roi de Soleil project on Dang Thai Mai street near the West Lake. In an area of more than 8,000 square metre, the developer plans to build a complex of office, condotel, apartments for lease and for sale.

The third is The D’.Le Pont D’Or located in Hoang Cau street of Dong Da district looking over Dong Da lake. In an area of more than 5,300 square metre there will be two 23-storey buildings of apartments for sales

The three residential complexes are locate on prime, “golden” locations. Tan Hoang Minh has to pay much for land clearance and compensation.

One of Tan Hoang Minh’s advantages when implementing those property projects, Dung said, was that it had focused on targeted projects in small scale, but high quality, instead of choosing large scale projects in hectares.

The company last week also offered a one-month golden sale week to entice customers to buy units in its D’.Palais de Louis project now under construction in Nguyen Van Huyen street, Cau Giay district.

Accordingly, starting from November 7, the company offered for the first 20 customers a deal with with zero interest from bank for 24 months, and a free car parking space for the lifespan of the project.

Dung pointed out that the offer doubles inducements at other projects which offer 12 months of interest free financing. The value of free interest rate for one condominium in D’.Palais de Louis in 24 months can be equal to the value of an apartment in other projects, he said.

Each condominium at the project is being sold for $612,000 to more than $1.4 million.

Moreover, the value of the free leasing expense for their car parking space is calculated as billion Vietnamese dong, he said.

With the plan to build D’.Palais de Louis into the most luxury residential building in Hanoi, Tan Hoang Minh also signed contract with a range of famous sub-contractors such as AA Architect and Construction Joint Stock Company and Fagor, Kohler and Otis.

As of last week, construction had reached 25 of its planned 27 stories. Started building since 2010 the project will be finished its frame in 2013 and handed over to customer by mid 2014. It is developed at the cost of $190 million.

Source VIR


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