It seems a few private residential ‘townships’ are coming up in Vietnam, and at the welcome of investors and those seeking a place to call home.
One of Singapore’s major developers, Keppel Land has been developing massive properties in Ho Chi Minh, where the expatriate population is growing and the rental demand for housing has increased by leaps and bounds in the last decade. 3 of Keppel Land’s major developments in the mamking are – Empire City, Palm City and Riviera Point.
Palm City on its own is already quite a force to be reckoned with. Jointly developed by Keppel Land and Tien Phuoc and Tran Thai, it covers a good 30 hectares of waterfront land, essentially an entire township itself. In Phase 1 of its development, all 135 landed terrace and detached houses have already been fully spoken for in their July preview. Now in Phase 2, they have launched the 816-unit Palm Heights apartments, with 570 units already booked at the average price of 32.6 million Vietnamese dong (S$2,017) per sq m.
Over at the 518-unit The View private apartments at Riviera Point, almost 33% of the 345-units launched have been sold. The selling price average at 37 million dong (S$2,302) per sq m. The developments in Ho Chi Minh seem be all be larger-sized high-rise ones. Yet another 500-unit private residential condominium project will be coming up within the year – Empire City, also a waterfront development in the Thu Thiem New Urban Area.