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Phu Dong secures MB Bank loan for affordable housing project

The Saigon Times

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HCMC – Phu Dong Investment 5, a subsidiary of Phu Dong Group, signed a credit and guarantee agreement with the Military Commercial Joint Stock Bank (MB Bank) today, January 30, for the Phu Dong Sky One project.

As part of the deal, MB Bank will lend VND500 billion to the Phu Dong Sky One project and provide a VND1-trillion guarantee for the developer’s financial commitments to buyers in case of any delays in delivery.

Phu Dong Sky One is an affordable housing project covering 5,615 square meters in Di An City, Binh Duong Province and needing a total cost of VND1.1 trillion. It consists of two 30-story apartment blocks with one basement and a total of 780 units.

The project has a convenient infrastructure system with access to various highways and major roads, including My Phuoc-Tan Van, National Highways 1K and 13, Pham Van Dong Boulevard, and extensions of HCMC’s Metro Lines 1 and 3.

The project is expected to be launched in March 2024, with prices ranging from VND1.4 billion to VND2.2 billion per unit. About 75% of the apartments will be priced between VND1.4 billion and VND1.8 billion.

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