One Verandah Will Be The Last Riverside Project Licensed In Thanh My Loi, District 2?

Following the success of the Richland Residences project, MapleTree Singapore continues to launch One Verandah (formerly The Lancer) project in Thanh My Loi, District 2. Many experts say One Verandah is likely to be The last riverbank was licensed in Thanh My Loi area.

Strengths – weaknesses and potential development of Thanh My Loi residential area, District 2

Thanh My Loi residential area is not as high as Thao Dien area, not as busy as An Phu – An Khanh urban area, not as expensive as Thu Thiem urban area. According to Rever, Thanh My Loi residential area currently has only some basic facilities such as: Snow town shopping mall, District 2 People’s Committee, hospital, riverside park, Luong The Vinh High School, Luong Dinh Cua Secondary School, Nguyen Thi Dinh Secondary School, Saigon Star International School … However, Thanh My Loi still has its own characteristics that attract many real estate investors in and outside the country. So, what are the strengths and weaknesses of this residential area?

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The weakness of Thanh My Loi residential area: In the last years, Thanh My Loi area is still in a potential development due to the impact of real estate speculation in the period of 2007-2009. These are just abandoned houses, the population is sparse, many projects have been covered for many years.

Thanh My Loi is gradually gaining the attention of the real estate business

In addition, Dong Van Cong route is the main direction of the container truck into the port of Cat Lai, which has made the area less developed. The shared road with the container car has caused the residents not dare to relocate. This is due to traffic safety concerns.

Strength of Thanh My Loi residential area: In addition to limiting the number of container vehicles passing through, the traffic infrastructure in Thanh My Loi can be considered as the second most synchronous District 2, As a result, many big domestic and foreign investors have invested in such as Novaland, Capitaland, Maeda Japan and MapleTree. Thanh My Loi from a low-rise residential area, now many high-rise apartment projects, high-quality level spread along the land. Thanh My Loi residential area is planned to be the new administrative center of District 2, located near the Saigon River so the climate is cool and in addition to the location adjacent to Thu Thiem urban area should always attract capital strong investment from major investors in recent years.

The development potential of Thanh My Loi residential area: The construction of a bridge over Kim Cuong island of VND 500 billion and the construction of a road along Sai Gon river will help form a new traffic route through Mai Chi Tho street. With Ring Road 2, passing Phu My Bridge, will contribute to reducing congestion on Dong Van Cong Street and the area around Cat Lai Port. In addition, the limitation of the container truck through Dong Van Cong road to turn to Vo Chi Cong (inner ring) at the end of next year, as soon as the My Thuy intersection and the junction of the Binh Thai 4 junction.

The bridge connecting Diamond Island increases the value of real estate in Thanh My Loi residential area

With these strong infrastructure investment factors, people from the projects that are moving in, there is no reason not to believe Thanh My Loi area will develop rapidly in the next one to two years.

One Verandah will be the last riverside project licensed in Thanh My Loi?

According to the planning project, Thanh My Loi residential area has a total area of 157,975 hectares, is planned to be a residential area for new construction, public area (school, health care, trade – service …) and area public green parks. In particular, functional areas for housing (housing group) with a total area of 72.92 ha, including: existing housing group of 2.81 ha, group of new housing construction area of 68.3 ha, housing groups in the mixed land use area of 1.81 hectares.

The low-rise houses, garden houses are located mainly along the rivers, canals and streets. High-rise buildings (apartment buildings, mixed-use complexes – commercial services), 18 to 22 storeys are located in the central area, along the East Ring Road.

Map map of Thanh My Loi area

The central area includes public works (commercial-service, administrative, medical, green parks, sport) with floors from 1 to 5 floors, located in the area At the same time, the center of the land area and associated with the mixed-use commercial complex will contribute to creating a space of landscape architecture in the central area, while ensuring that the radius serves the needs of the urban population.

Currently, a series of large-scale projects in the Thanh My Loi area have been speeding up the implementation, prominent projects can be mentioned as: Diamond Island, Feliz en Vista, Vista Verde, Victoria Village … and the latest One Verandah project of MapleTree Owner. As the riverbank land area in Thanh My Loi area is shrinking, many experts say One Verandah is probably the last riverside project to be licensed in Thanh My Loi.

With an almost unobstructed view of the buildings, the One Verandah project has more than 80% of the apartments that have the best view of the Saigon River.

Besides, instead of possessing 3 sides of the river like Diamond Island, One Verandah owns 4 frontages: Bat Nien, Nguyen Van Ky, Ta Hien and No. 103. In addition, the project adjacent to the river Saigon and owns a permanent vision of District 1 with Bitexco symbol and Phu My bridge similar to Diamond Island.

The prominent projects in Thanh My Loi are gradually “filling” the prime location along the river

The living environment is also the difference that One Verandah Project in particular and projects in the area of Thanh My Loi generally bring residents: In addition to the view of the cool river, the project around the green environment much. All the housing projects here are well planned and infrastructure is very good. Position adjacent to the People’s Committee of District 2, surrounded by the Thanh My Loi villas. They are no different than a small Phu My Hung.

Panoramic view of Saigon River and District 1 center from One Verandah project

Overview of MapleTree’s One Verandah project in District 2

After Saigon South Place Complex, including Richland Residences, MapleTree – one of the three biggest real estate developers in Vietnam, continues to emerge with a new project named One Verandah (formerly known as The Lancer) in Thanh My Loi Ward, District 2.

The project of 1.7 ha was acquired by the owner of The Minh Company a few years ago. Originally designed this project consists of 5 towers, 29 floors with the number of apartments on the same floor is quite low depending on the tower. One Verandah as well as other apartment projects in Thanh My Loi, are investors to target the segment of young customers, high-income, high income. The project will focus on the quality of apartments in accordance with the Singapore standards of the owner, at the same time, focus on the living and relaxation facilities for young customers today: infinity pool swimming pool, playground me, the gym and more than 50 other standard resort facilities. Selling price is about $1,800 / sqm – $2,000 / sqm (equivalent to VND43 million – VND49 million / sqm).

Location of the One Verandah project

• Project Name: One Verandah MapleTree Apartment.
• Investor: MapleTree Vietnam.
• Location: Located in the center of Thanh My Loi Ward, District 2 with 4 fronts: Bat Nan, Nguyen Van Kinh, Ta Hien and road No. 103 – TML along the Saigon River stretching through Mai Chi Tho Street.
• Total area: over 1.7 ha.
• Construction and foundation contractors: Coteccons and Fecon.
• Designing contractor: P & T Consultans.
• Construction density: 40%.
• The total number of apartments: 800 units.
• Delivery time: Q4 2019
• The form of handover: Completion of a high standard.
• Project scale: Including 4 29-storey apartment towers:

–Includes 1 basement + 2 car garage.

–24-floor apartment, utility floor on the top floor.

• Apartment area: ranging from 55sqm – 100sqm for 1 – 4 bedroom apartments.

        –One bedroom apartment: about 55sqm occupied 11%.

        –2 bedrooms: about 80sqm – 95sqm occupied 41%.

        –3 bedrooms: about 110sqm – 130sqm occupied 33%.

        –4 bedroom apartment: about 170sqm occupies 11%.

• The form of ownership of apartments:

       –For the Vietnamese: long-term ownership.

       –For foreigners: owns 50 years, can apply for the extension under Vietnamese law for 50 years.

       –Fecon is currently under construction and is expected to launch in the end of 2017.

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