Currently, the three most developed real estate markets in Vietnam are Da Nang, Nha Trang and Phu Quoc. In particular, most of real estate consultants such as CBRE, Savills, JLL … are optimistic about the future of Phu Quoc resort real estate.
According to Savills, Vietnam’s island and beach resort cities have surpassed Hanoi and HCMC in terms of international visitor growth. In which, Phu Quoc – with its isolated location and temperate climate, all year round sunshine, rich in oxygen, low humidity, good for health, has become an attractive destination and a new choice for international travelers, with a growth rate up to 40% last year.
According to Duong Thuy Dung, Director of Research Division of CBRE, although starting later, Phu Quoc is speeding up more than any other region catch up with Nha Trang and Da Nang on resort real. From the small hotels and resorts, Phu Quoc now has more than 2,500 3-5 star standard hotel rooms and. It is forecasted that the supply of high-end hotel rooms will grow at an average annual rate of 30% in the coming years.
With the infrastructure system continuing to be completed, as the airport is being upgraded to double capacity, international seaports accommodating cruise ships of 5,000 to 6,000 passengers are under construction, casino and the longest cable car crossing of Southeast Asia is going to be put into operation, plus preferential policies such as 30 days of visa exemption for foreign visitors … Phu Quoc has a great opportunity to make brealthrough.
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Recognizing this potential, not only giant investors such as Vingroup, Sun Group, CEO Group …, or foreign corporations such as InterContinental, Accor, Best Western, Marriott …, but also individual are all coming to Pearl Island to invest.
Thousands of villas, apartments, mini hotels, shophouses … have been offered for sale recently, but are quickly sold out by the large demand, especially the demand of investors in the North.
Due to the high payment ability from the buyers, the majority of developers focus on the luxury segment, in which the price of resort apartment and townhouses cum mini hotels range from 4-12 billion dong/unit, villas cost 10-40 billion dong/unit.
However, also due to good selling, businesses are too interested in invest in the high price segment, leading to the paradox that although the investment in resort real estate continues to develop strongly, there exists a big gap for the segment below 4 billion dong.
If individual investors only spends several hundred million to several billion, they can easily buy a resort apartments in Nha Trang or Da Nang, there is almost no chance to set foot in Phu Quoc.
Meet the demand of investors
However, visitors and investors will not have to wait long because an upcoming condotel project will fill the demand gap in Phu Quoc. This is the first condotel project in Phu Quoc to focus on the segment of 3 billion dong with 80% of the apartments of the project cost from 2-3 billion.
The project is located at the “center of the center” because it is located in the center of Long Beach, the longest coastline in Phu Quoc. Inspired from the idea of Phu Quoc’s famous pearl oyster farming, Kume Sekkei’s architects, the top Japanese designer, have designed the as a mussel is releasing pearls. Each apartment and villa is a pearl. In addition to a diverse facilities and services to meet the needs of visitors, the project also has an inter-sconnected swimming pool with beautiful design.
It is known that the partners involved in the development of condotel project are all names in the real estate market today. Among them, CEO Group is one of the largest investors in Phu Quoc and has been voted the top 10 real estate investor in Vietnam by Vietnam Report in 2017.
Best Western Group – the business partner of the project is the leading hotel management group in the United States and the top 10 in the world. General contractor of Hoa Binh Corporation is the leading construction corporation in Vietnam.
This is also a real estate project offering the highest profit commitment for investors in Phu Quoc market up to now. With the bright future of Phu Quoc, CEO Group is committed to customers who buy five star luxury Sonesta Resort will receive 100% of profits in 10 years.
At a reasonable price, as well as being committed to bring resort experiences, together with double chance to make money for investors from profit and increase in the value of real estate when Phu Quoc becomes the special administrative-economic region in the near future.
According to CEO Group, Best Western Premier Sonasea Phu Quoc project will be officially launched in Hanoi on July 30, 2017.
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