Phu My Hung sells out 128 condos


Real estate developer Phu My Hung Corporation says it has sold all of the 128 condominiums in the second phase of its Riverside Residence project in Ho Chi Minh City's District 7.

Nearly 800 customers came to draw lots to buy the apartments of the project's Block A at VND37 million (US$2,117) or more per square meter on March 1.

One buyer, Tuong Vy, said the price was reasonable as the building has good facilities and is located at a beautiful site.

Customers are given access to loans from 12 banks which have signed contracts with the project investor. These banks lend up to 70 percent of the value of an apartment for up to 20 years.

Construction on the 18-storey Block A will start by the second quarter of this year and is expected to finish in 2010.

The Riverside Residence project, worth $200 million, consists of five buildings - A through E - with a total of 671 condos and 51 stores.

Thanhnien News

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