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Cocobay: The media effect or a phenomenon in the real estate market?

A corner of the check-in at Danang airport with Cocobay advertising panels

In the mid of May, 2016, the name of “Cocobay complex” has appeared on  media and advertising of Vietnam  with dense frequency and widespread.

Media effect

It is not difficult to see the appearance of name Cocobay in Da Nang, Noi Bai and Tan Son Nhat airports from the pano, lightbox, luggage trolley, entrance to the screen at seat and even the magazine on the plane.

Cocobay name is also appeared on TV with advertising programs, on radio  with VOV and VOH channels.

Other medias such as newspapers, online newspapers, Cocobay also appeared in PR , advertising, banner with dense frequency on all channels. Even, this complex does not miss the advertising on the website browser.

Not only widespread on official media, recently, Cocobay has also covered social networking. According to a report by SocialBeat (of Icomm Media & Tech., JSC) – Vietnam’s leading social networking measuring  tool, in the first half of 2017, there has been more than 8.2 million interactive, 400,000 posts and more than 872,000 comments referring to real estate.

In which, the segment of resort real estate accounted for 35% of comments. For Cocobay Da Nang alone, SocialBeat recorded to account for more than 55% when discussing about resort real estate. Especially, on the opening day of Da Nang Cocobay , this system has recorded over 21,000 related discussions.

Up to now, Cocobay has still been “hot” thanks in part to the media tools. Even before putting trust in this project, many customers all wonder: Is it like advertising?

How about the reality?

After 1 year since its launch, Cocobay has opened the first phase with around  1,000 Boutique Hotel apartments: Muze, Latido, Bisou and culinary system on the bustling walking street.

Together with the chain of hotels, a diverse culinary chain in Cocobay has been put into operation in July, including Cho Xua Restaurant, Holy Pig (American BBQ Style), Cococita (Mexican culinary), Nhau Do (unique beer stock exchange). Also in August, restaurants such as Tanuki (Japanese style), Mei Li Dim Sum (Chinese style), Motor Café, Bakery Café, Latin Grill … will also be put into operation.

According to Empire Group, the utility system just launched only accounts for less than 10% of the total utilities owned by Cocobay. On the day of inauguration, a lot of customers have come to experience the services at the leading entertainment and tourism complex in Vietnam.

Together with the operation of Boutique Hotel, the progress of  condotels are accelerated to put into operation soon and share profits for customers.

Coco Skyline Resort-the component project which is being opened for sales for the last phase by the Empire Group is also roofed top in July. It is expected to be handed over to customers in the first quarter of 2018. Coco Skyline Resort is priced at 1.4 billion/unit, with an minimum commitment rate of 12% / year for eight years.

Recently, when this complex is put into operation, a series of projects around the Cocobay has become more and more vibrant.

~~>>Update on new information on the real estate news in Vietnam here: Vietnam real estate news

Not only in the ads, right in the official media message by the owners of Coco Riverside City, Sakura Central Park, Ngoc Duong Riverside, My Gia urban area … all use Cocobay as a highlight with message “urban area adjacent to Cocobay” …

Field surveys show that, since the  deployment of Cocobay, the coastal land prices here increased sharply, from several hundred thousand/m2 up to 3.6 to 3.7 million /m2. By the time of June – July , when this complex is put into operation of phase 1, prices in projects adjacent to Cocobay will increase sharply to 5-7 million/m2.

You are reading the article Cocobay: The media effect or a phenomenon in the real estate market? in the Real Estate category at https://realestatevietnam.com.vn/.
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Cocobay: The media effect or a phenomenon in the real estate market?
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