A view of Jamona Apartment in District 7. — Photo Courtesy of Sacomreal

HCM CITY (Biz Hub) – Sai Gon Thuong Tin Real Estate JS Company (Sacomreal) on Sept.15 began sales of 200 luxury units in phase 2 of its Jamona Apartment in District 7 after selling out the 800 units of phase 1 within two months.

The 65-69sq.m units in the project cost VND18-20 million (US$829-921) per square metre.

Ocean Bank will underwrite the project for buyers.

If the developer fails to hand over apartments to customers as stated in the contract, the bank will fully reimburse them together with interest and penalties stipulated for the investor.

OCB will also offer buyers loans worth 70 per cent of the value of apartments at preferential interest rates for 15 years. Thus, to buy an apartment worth around VND1 billion ($47,619), a buyer has to bring in just VND300 million ($13,824). – VNS