In the first nine months of 2017, the investment real estate market has recorded a wave of a series of projects. In which, the most notable is the emergence of real estate projects creating the different and new trends for the market.
The market always demands new models
The figures from the General Tourism Department show that in the first eight month of 2017, Vietnam has attracted about 8.5 million international visitor arrivals, up 29.7 compared to the same period last year. This growth is the continuation of the record number of 2016 year as Vietnam welcomed more than 10 million arrivals of international visitors and is expected to increase by 11.5 million in the end of 2017 year.
This figure is quite impressive for the tourism industry of Vietnam as well as creates the premises for the strong development for the resort and investment real estate market.
In order to receive the above number, in the 8 first months of 2017, there have over 15,000 units from 82 projects launched to the market. Thus, in order to be successful and create impression, the investors must create new trends, shared by Mr. Rudolf Hever –Director of Savills Hotel of Asia – Pacific at the seminar themed “investment in resort real estate: the opportunities, risks”
In particular, Mr. Rudolf Hever said that instead of developing the projects which are plenty in number and popular in the market, the owner of resort real estate should boldly change and launch products basing on the future trend, maybe in the next 5 or 10 years.
Specially, he emphasized that for super resort real estate project, instead of supplying in large number to the market similar condotels, it is essential for owners to develop the themed resort models to meet the and exploit maximum the market’s demands. Disney Resort is a typical example of the success of this model in the world.
Those new models will make Vietnam’s real estate market more diverse, more abundant and can attract more visitors to Vietnam.
The hallmarks in the market
About in the middle of 2016, properties market knew about the emergence of Cocobay project with total investment over 11,000 billion dong. With this project, the definition of resort and entertainment properties has appeared in the market. Upon completion, Cocobay is expected to become the large and high-end complex in the Southeast Asia, which is as a miniature of Las Vegas (US) in Vietnam.
Not only being the leading large and high-end resort and entertainment complex in the Southeast Asia, Cocobay is also known as the largest themed resort complex in Vietnam with a variety of specialized products: “Wellness condotel” for customers demanding beauty care and energy regeneration; Cocobay Towers for super luxurious customers, Boutique Hotel for young travelers, or Coco Skyline Resort for the Smart Condotel experience.
And especially in early September, at this project, Empire Group has announced 350 Coco Wonderland Resort apartments which were designed specifically for children. In order to attract children, the project is designed as a shining light castle.
Accordingly, coming here, children will be immersed in the space of fairy tales in the wonderland with Fairy Garden, home of fungus Smurfs, light forest, magical lakes, giant chess boards, magic mirror, transformed pumpkin carriage and interesting houses on trees.
Moreover, all other facilities such as swimming pool, coffee shop, pool bar & ice-cream, lounge … are designed in fairy color.
It is also the only condotel in the Cocobay complex owning Snow Queen playing area and the most impressive cinemas of 1,100 m2 in the Central region.
At present, Vietnam has more than 23 million children, while the income of young parents is increasing, so they are willing to spend everything to bring the best for their children.
At present, there are a number of enterprises in Vietnam invest in developing amusement parks for children. But there has no enterprises develop resorts with closed facilities meeting all demands and interests of children Coco Wonderland Resort is a bold step and will attract real estate investors.
“According to our calculation, just by exploiting 1 percent of the above pie, Empire Group and investors will be successful,” said the Empire Group representative.
For example, a 1-bedroom apartment with investment of 1.8 billion dong; with the average price of four-star hotel in Da Nang at 2.8 million dong/night, the average occupancy rate of 65% (average rate for 4-5 star hotels), the annual revenue will be about 637 million dong/year; deducting cost of operation, maintenance and sale, the yielded profits is about 400 million. Of which, the profit customers receive is about 320 million/year. With this amount, the minimum committed profit of 12% /year for the first eight years as committed by Empire Group is feasible.
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