To invest in Condotel: Choose a new direction to grasp opportunity

 Mr. Rudolf Hever, director of Savills Hotels Asia-Pacific said that in addition to common hotel apartment projects, there still have different models such as spa & wellness resort model which integrated therapeutic services for clients to  stay there longer.

Instead of developing so many condotel projects which are popular in the market, resort property investors should confidently renovate and introduce innovative products, shared by Mr. Rudolf Hever shared in a recent workshop on resort real estate.

Due to the challenge of innovation to  resort real estate owner, Coco Ocean-Spa Resort in Da Nang is a typical example of how to make this  challenge become an opportunity.

Cocobay – with products creating  new trends in the market, are always interested in by investors. After the concept of Boutique Hotel was created with products such as King Bay – Queen Bay, Garden Bay creates good consumption, Empire Group has launched to he market Wellness Condotel line named Coco Ocean-Spa Resort.

This is the first condotel project on health care and energy recovery of Vietnam’s resort real estate market. Coco Ocean-Spa Resort are developed with a gym-yoga-spa system with area of more than 4,500 sm which is equipped with modern machinery, procedures and qualified physicians and specialists who are trained thoroughly.

By developing toward Wellness Condotel orientation, Coco Ocean-Spa Resort will bring benefit both for investors and the staying visitors, said the owner.

Grasping the demands of beauty care, health protection and energy recovery during the vacation of customer, Coco Ocean-Spa Resort attracts customers coming here to stay. Moreover, to fulfill the process of energy restoration or beauty care, visitors need to be treated, cared properly with the full process.

This makes Wellness Condotel not only attract customers but also keep customers stay. Larger number of visitor, longer stay will bring more profit for the owner.

Not only have advantage on business, investors themselves are also provided healthy care when they are entitled up to 15 free nights here.

It is due to this uniqueness that Coco Ocean-Spa Resort has received the attention of experts and investors since its launch. Therefore, Coco Ocean-Spa Resort once again reaffirms its own potential way with customers in the context of demanding to refresh the resort real estate market in Vietnam.

Empire Group also said that for Coco Ocean-Spa Resort project, it will commit to a minimum profit up to 12% per annum. Thus, with each condotel worth 1.8 billion, customers will receive about 216 million per year, for 8 consecutive years.

After eight years, the Empire Group will share 80% of its profits to its customers from rental. For example, a Coco Ocean-Spa Resort condotel cost VND 1.8 billion, the room rental rate applied for four-star hotels in Danang is about 2.8 million/night, with average occupancy rate at least 65%, the annual turnover is about 637 million. After deducting operating, maintenance and sales costs, the profit is about 400 million. In whichs, the profit received by customers is 320 million per year.

Especially, in just one month, Cocobay will open the first phase with the Boutique Hotel and other items of exciting entertainment and cuisine activities. In addition, the owner also launched the second phase of Coco Ocean-Spa Resort project with 80 units with the most beautiful location in Cocobay.

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

The price set for 80 units of Coco Ocean-Spa Resort will be from 1.8 billion. In which, customers only pay once 790 million (accounting for 40% of apartment value) to own immediately. The remaining amount will be lent by SHB, interest rate-free until receiving the house.

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