Novaland to complete three apartment complexes

Monday, Feb 24, 2014 18:22

Customers view a model of Icon 56, a HCM City apartment complex to be completed by Novaland, as the company announces its co-operation plans at a conference on February 23. -- Photo

HCM CITY (Biz Hub) ― The Novaland Group on February 23 announced that it would cooperate with investors to finish the construction of three incomplete apartment complexes in HCM City.

These complexes are Lexington Residence, Icon 56 and Galaxy 9.

Lexington Residence covers an area of 21,000 square metres and will provide apartments at prices upwards of VND1.3 billion or US$61,900 each. Icon 56 will have an area of 3,000 square metres, with each apartment costing at least VND2 billion or $95,240. Galaxy 9 will have an area of 6,200 square metres, with each apartment priced at VND1.5 billion or $71,430 or more.

The projects had favourable locations in District 2 and District 4 but remained unfinished due to general economic difficulties, said company general director Phan Thanh Huy.

"Seeing that the economy is gradually recovering and the real estate market is entering a new cycle of development, we are cooperating with companies, having projects in strategic locations, under many forms," he said.

The company said it would adjust designs, add more features and control costs at the projects to suit the customers' demands and pockets.

Industry insiders said the move would help boost the city's property market and urban development in the current context. ― VNS

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