Nomura Real Estate Development Co., Ltd. has agreed to participate in a condominium housing project within the Ecopark, a large-scale development project undertaken by local developer Ecopark Corporation in Hung Yen province.
Park Kiara, first residential condominium in ParkCity Hanoi, comprises of two towers of 31-storey each with 432 units.
There were only 12 newly launched projects in Ho Chi Minh condominium market in the first quarter of 2019, dropping significantly due to long Tet holiday and slow licensing process, according to CBRE.
In the second quarter of this year, Ho Chi Minh City market welcomed an additional 6,109 condominium units, a decrease of 36 per cent compared to the same period of last year, according to commercial real estate services and investment firm CBRE.
The Japanese giant real estate developer Haseko is planning to build a high standard condominium project in Ho Chi Minh city in 2018.
With a lack of public housing initiatives, the market is currently being led by private developers.
Even though the total new supply of condominium in Ho Chi Minh City (HCMC) showed a decrease last year, good product configuration helps the market to maintain a good absorption.
According to quarterly report highlights in Ho Chi Minh City market of CBRE, accumulated supply of new launches from 1999 to the end of first nine months of 2017 reached 220,217 units and high-end segment reduced its proportion for mid-end and affordable segments.
