Business Business

23/09/2017 - 09:01

Commercial housing projects get warming up

The real estate market is showing signs of warming up, many projects moves after a long silent time, especially the projects of commercial housing.

Many apartments in The Manor Crown Hue project are under construction


Mr. Nguyen Huu Loc, Deputy Director of The Manor Crown Hue project informed that after the sale period, the remaining number of apartments in phase 1 of the project was only 10 semi-detached villasat from VND 4.4-5.2 billion (not discounted yet), the rest were owned.

The company is selling the last semi-detached villas with the discount of up to VND 315 million/villa and handing over the housing units in the first phase of the project to customers. The remaining units will be hung over in this quarter.

In August 2016, the Phu My An project of Aninvest Joint Stock Company was officially launched. According to the progress assessment of the Provincial Management Board of Urban Development Area, the construction progress of the project reaches 110% compared to the plan, andover 95% of the basic technical infrastructure is now completed.

With an initial scale of 110 detached villas from 210-365square metres; 64 shophouses from 105–172 square metres, the company is building commercial townhouses with 30/64 units, detached villas at about 15% (15/100 units).

Mr. Nguyen Quang Quy, shareholder of Aninvest Joint Stock Company said that currently in the province, most projects providing medium and high-grade apartments were still very limited; meanwhile, the housing market was showing positive signs. That is the reason why the company selects this time to sell apartments.

After nearly a month of sale, more than 30% the number of shophouses, villas has been on order. The company is also researching the market so as to plan the construction of medium and high-grade apartments in Phu My An project in the years of 2018 and 2019, to make a breakthrough for the appearance of Hue city.

Three years ago, the province only developed a project of high-grade commercial housing which was An Cuu City, with the annual average sold numbers at about 25-35 units. Currently, there are many high-grade commercial housing projects on the market, but the number of customers still spreads evenly over the projects. This is the "golden" time of the housing market as both new and old projects attract a significant number of customers.


While the new projects are focusing on completing the infrastructure to create the market attraction, the deployed projects focus on landscape improvement in addition to infrastructure investment.

Regardless of the investors’ problems related to the planning work from the beginning, An Cuu City is still considered to be completed and beautiful in comparison to many others. This is because the technical infrastructure system in this area is quite synchronous, fully done to meet all residents’ needs; in addition, there are the systems of management and 24/24 security monitoring, cleaning, garbage collection..., ensuring the green, clean, beautiful area; which are the biggest advantages.

Mr. Le Quang Dung, Deputy Director of the Department of Construction explained that the flourish in economy is the driving force for the housing market in general and the segments of medium and high-grade apartments in particular.

Besides some individuals having the real need to buy departments to live in, others also buy departments to do business; and this affects the housing market.

In parallel with good signals from the market and investors’ efforts, the cooperation of the province and management units in finding common points, which creates the best conditions for project development, is also considered as the "support".

For some projects facing difficulties in site clearance, the province facilitates the investors in adjusting the general and detailed planning, in order to make it favorable for the units to implement the projects. The Management Board of Urban Development Area has actively invested in the construction of traffic, lighting systems…, as well as mobilized investors and businesses to improve the environment, plant trees on wasteland, roads, dividers, clean up main 100-metre, 60-metre roads…; replaced the water supply pipe system in some projects...

According to the housing development plan in 2017, the whole province has 12 implemented commercial housing projects. Among them, 10 projects have been completed their infrastructure, apartments, 1 project is calling for investment andthe remaining project is adjusting. By 2020, the province will develop 1.23 million square metres morearea, equivalent to 8,000 commercial apartments. Thisobjective is concretized based on housing demand; in which, the whole province developed 540,000 square metres area in 2016; accumulated about 828,000 square metres area in 2017.

Story and photo: Hoang Loan