Phodong-Hoasen sells strongly
By Quoc Hung - The Saigon Times Daily
HCMC – Leading private steel maker Hoa Sen Group and Pho Dong Development Investment Joint Stock Co. late last week started to sell their apartments at a project that got off the ground in HCMC’s District 9 more than six months ago.
The price is at least VND13.3 million for one square meter of the 18-storey Phodong-Hoasen building project, whose area per unit ranges from 55 to more than 94 square meters. In the first day, the two companies sold 71 units.
Buyers can take out bank loans of up to 70% of the value of an apartment and repay the loans over a period of up to 20 years. Three banks comprising Sacombank, Techcombank and VIBank, have committed to loaning customers to buy apartments of the project.
The project comprises two 18-story blocks covering more than 3,600 square meters at Dien Phuc Thanh residential area to provide 210 apartments once they are in place after more than 18 months of construction.
The two companies also announced realty transaction floors including Sacomreal-S, Dat Xanh Dong A, Dat Ngoc, Dong Tay, Intereal and Song Phat to sell units of these projects.
The VND190-billion Phodong-Hoasen building project will be ready late next year and include a shopping mall, restaurant, and other service facilities on the ground and first floors.
Hoa Sen Group trades in and manufactures corrugated iron and steel products. It operates several factories, including cold rolling steel plant with an annual output of 180,000 tons, a zinc-aluminum alloy plating steel plant with a capacity of 150,000 tons, and a building material factory capable of producing 165,000 tons of steel pipes and 44,000 tons of plastic pipes annually.
The Phodong-Hoasen Building is Hoa Sen Group’s first property project investment.
Le Phuoc Vu, general director of the group, said his group would join other property projects and saw the sector as one of the main sectors which the group will develop in the near future.