Luxury apartment prices soar in Hanoi amid supply shortage
The supply of luxury apartments in central Hanoi is becoming increasingly scarce, pushing starting prices to new highs.
Hoa Binh Construction Group Joint Stock Company has just kicked off the third phase of Celadon City, invested by Gamuda Land, located in Tan Phu district, Ho Chi Minh City.
The package of the third phase to which Hoa Binh has been assigned as main contractor includes 366 Block-E apartments, 303 Block-F apartments, a part of basement and a part of landscape with a value of nearly VND660 billion (roughly $26 million).
Including this package, Gamuda Land has assigned all three phases of Lot A1 under Celadon City project to Hoa Binh including six 16-story towers worth VND2.26 trillion ($98 million). This clearly demonstrates Gamuda Land’s trust in Hoa Binh.
Hoa Binh’s member company, Jesco Hoa Binh (JHE), won the mechanical engineering packages of the first and second phases of the project with the total value of VND200 billion ($8.7 million). JHE is also with Gamuda Land on the mechanical engineering of the third phase. JHE is currently executing some large projects such as Sunrise City View, Serenity Sky Villa, Diamond Lotus ... with revenue in 2018 expected to reach over VND500 billion ($21.7 million).
Hoa Binh is present in 40 out of 63 provinces and cities nationwide and four countries worldwide.
The supply of luxury apartments in central Hanoi is becoming increasingly scarce, pushing starting prices to new highs.
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