Indochina Land, the property arm of Indochina Capital, is underscoring its long-term investment in Vietnam by championing three new projects in Hanoi and Ho Chi Minh City in 2012.
Peter Ryder, CEO of Indochina Land, said that a project with 114 semi-detached and detached villas and the Saigon South Residences with more than 1,000 units in Ho Chi Minh City and another condominium project in Hanoi will be launched in 2012.
“We are actively selling products from current projects, as well as preparing for launching new projects in 2012,” said Ryder. As a developer, Ryder said, good location, unique products and reasonable price would be key factors to attract buyers.
Looking back on 2011, Ryder said despite an extremely challenging business climate throughout the year, Indochina Capital and Indochina Land achieved major successes.
“While real estate market collapsing in 2011’s challenging market, Indochina Land continued to push forward with project construction and residential sales in excess of $40 million,” he said.
“For operating assets we have recorded stronger occupancy, higher room rates and strong rental performance throughout the portfolio, which includes commercial, retail, office, resort and serviced apartment properties with new leases being signed, existing tenants expanding their footprint and increased performance at our resort,” he added.
Positive signs were reported in all projects developed by Indochina Land. The Indochina Plaza Hanoi – the company’s first development in Hanoi - has registered over 250 sales, representing close to $80 million in contract value since launching in November, 2009. On the retail leasing side, space has been moving quickly, with the retail centre’s over 60 per cent leased to date.
“We are keeping our commitment to hand over apartments in January 2012, office tower and retail podium in March 2012,” Ryder said. He added that positive sales were experienced and he believed that the remaining units would be sold out in the next six months.
At the Hyatt Regency Danang Resort and Spa, following a hugely successful launch in 2009 and continued momentum in 2010, sales have continued at a steady pace throughout 2011, outperforming competing projects along Danang’s coastline and generating additional sales for a total value of $8.8 million. More than 90 per cent of the projects’ units have been sold out to date.
Meanwhile, The Estates – part of Montgomerie Link Golf Course - sold 50 per cent of its villas in the first phase and Indochina planned to hand over these villas to customers by 2012.
Another project - the Six Senses Con Dao - has become one of the most exclusive resorts in Southeast Asia. Located just 45 minutes by plane from Ho Chi Minh City, the resort consists of 23 hotel villas and 15 three and four-bedroom and 12 one-bedroom luxury residential villas for sale. It has sold nine of 15 of the three and four-bedroom villas and three of the 12 one-bedroom villas which were introduced to the market in November 2011.
Indochina Land currently manages three funds with approximately of $500 million in committed capital, facilitating $2 billion in property developments.