96 per cent of the 270 condominiums on offer in the fourth selling phase of Phu My Hung Development Corporation’s Saigon South Residences were snapped up by buyers.

The giant real estate developer said the apartments were purchased within a mere two hours after the sale opened of units in block G, the project’s only stand-alone tower.

After four sales phases, nearly 1,500 units in five out of the six buildings of Saigon South Residences have been sold, the developer said.

It said nearly 800 customers turned up for the sales, 40 per cent of them being those who had failed to buy in the three previous phases.

The fourth phase attracted many prospective buyers from HCM City’s neighboring provinces seeking to buy condos for their children who hope to study in the city next year.

A man from the Central Highlands Province of Buon Ma Thuot said a friend had told him about the project. He plans to move to HCM City in 2019 so that his children can study here.

Since the number of customers was much higher than the number of condos to be sold, the developer drew lots. Each of them had to put in their invitation in a box at the entrance, and the names of the lucky customers were announced after the draw.

Pham Tan Huan of the southern province of Vung Tau said: “I came early in the morning. I like the way Phu My Hung Development Corporation sells its condos. Everything is clear and transparent.”

Phu My Hung Development Corporation said Saigon South Residences has attracted many young buyers thanks to its many amenities for children like indoor and outdoor playing yards, study room, library and under-water sports centre.

They are also attracted by the offer from Vietinbank and Vietcombank of loans at zero interest for the first two years.

As a stand-alone tower, block G has views of all four directions. It is surrounded by several gardens and parks.

Like in the other buildings, 60 per cent of condos in block G have two bedrooms and measure 60-70sq.m. The others are condos with three bedrooms ranging from 87sq.m to 97sq.m.

Block G, the first building in the project, has a study room and a library.

Saigon South Residences has six buildings ranging in height from 19 to 29 stories. The project is being developed on an area of nearly 32,000sq.m and will have 1,840 units.

Around 31 per cent of the project is earmarked for construction while the remaining 69 per cent is meant for gardens and amenities.

Saigon South Residences is Phu My Hung Development Corporation’s first project outside the Phu My Hung City Centre in District 7.

Saigon South Residences is expected to bring value-addition to the customer because it offers many amenities like a BBQ area, sports area, conference hall and several gardens.

The value of the apartments in the project is expected to rise strongly when they are finished in 2019. By then local infrastructure would have been upgraded with flyovers and a metro line put into operation.

The last phase of sales of Saigon South Residences is next month.