FLC to put 2,500 property units on sale

Wednesday, Dec 17, 2014 16:11

The model of FLC Garden City project. — File Photo

HA NOI (Biz Hub) — The FLC Group plans to put 2,500 apartments, villas and terraced houses in golf courses on the market in the last quarter of this year.

The move is expected to bring hundreds of millions of dollars to the group.

FLC Groups General Director Doan Van Phuong said the two key projects in the launch would be FLC Garden City with 1,100 apartments, 20 villas and 20 terrace houses, and FLC Complex 36 Pham Hung with 483 apartments. Both are in Ha Nois South Tu Liem District.

In addition, the group would put on sale the Dinh Cong project in Hoang Mai District which has 80 terraced houses and 200 apartments; 675 villas in FLC Samson Golf Links and Resort; and 155 terraced houses and 255 apartments in the FLC Complex Thanh Hoa.

"FLC believes that the sale would be a success as the property market has seen positive signs," Phuong said.

He added that statistics from CBRE showed that the number of successful transactions in the real estate sector in the first half of the year posted a 70 per cent year-on-year increase, while that in HCM City was double.

It is believed that the improved macro-economy together with policies to support the market would push the people to invest in property.

The apartments are price upward of VND12 million per square metre, while the villas and terraced houses would cost VND15 million per square metre in Ha Noi.

Do Tat Thang, a property specialist in Ha Noi, said FLCs projects have strong liquidity, which will make the market crowded towards the end of the year.

Thang said that even if the group collected only 30 per cent of the mobilised capital for the 2,500 units, they could earn hundreds of millions of dollars.

FLC said it would buy back the apartments it sells if the investors bear losses. — VNS

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