HCM CITY (Biz Hub) — Phu My Hung Development Corporation starting selling condominiums at its new Saigon South Residences development in Southern HCM City late last week.

It is the project that Phu My Hung has developed to provide its quality for more customers at an affordable price.

Saigon South Residences has attracted many customers. Many of them are from Ha Noi. There are also foreigners living and working in HCM City.

The first day of sales attracted more than 1,000 prospective customers. The developer said many had come all the way from Hà Nội since they were interested in the project. There were also foreigners taking part in the event.

All 321 condos in Block A were sold out in two hours.

Turnout of customers is three-time higher than the supply so that investor decides to sell more

Phu My Hung Development Corporation said because of the large turnout of customers it decided to sell an additional 200 units in Block B, and 90 per cent of them were quickly snapped up. To preclude speculative buying and give everyone a chance, a person was allowed to only buy one condo.

Though the project is located outside of Phu My Hung City Centre, it attracted many prospective customers since the developer has promised to deliver the Phu My Hung-standard services it has developed in more than 20 years of operating in Viet Nam.

A picture of South Sai Gon region with many complete infrastructure constructions

Many of those present said the project was attractive thanks to the 38 monthly instalments, the most buyer-friendly payment scheme that Phu My Hung Development Corporation has ever offered.

Furthermore, with support from over 30 banks, customers have to pay about VND20 million a month to own a condo in Saigon South Residences.

Located on Nguyễn Hữu Thọ Boulevard, the project covers an area of nearly 33,000sq.m and will have six towers of 19 to 29 floors.

There will be 1,840 units, 68 per cent of them with two bedrooms. The others will have three bedrooms and measure up to 97sq.m.

Construction will take up only 31 per cent of the land with the remaining 69 per cent earmarked for green spaces with parks, a swimming pool, a garden, and gymnasium.

The project has 69 on-site amenities and services including an outdoor interactive playground, sculpture garden, swimming pool, pool side sundeck, outdoor shower, arc sprinkler, water-interactive complex, mushroom sprinkler, pavilion garden and hammock garden.

Everyday, many customers including foreigners visiting show-house of the Saigon South Residences Project

The apartments will be handed over to buyers in 2019 to allow an extended payment schedule to enable customers to buy units without a large down payment.

Furthermore, the company would like to finish the project when many of the proposed transport works are complete or are about to be completed. That will make it very convenient for residents to commute, and cause the value of their units to appreciate.