In the first half of the year, after the information that the Cocobay super complex will go into operation the first phase in July, 2017, the land market surrounding the project also become vibrant.
Neighboring projects to benefit from the project
A search on Google with the keyword “land for sale adjacent to Cocobay”, you will receive 208,000 results in 0.69 seconds. Not only including in the ads, the official message from Cocobay project developers also uses Cocobay as a highlight such as “urban area adjacent to Cocobay”, “the project is one step away from Cocobay”, “The project is only 5 minutes from Cocobay.”
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It can be named some projects such as Coco Riverside City, Sakura Central Park, Ngoc Duong Riverside, My Gia Urban area, Rose City Urban area, Sentosa City …
Along streets such as Dung Si Dien Ngoc, Vo Chi Cong, Nguyen Duy Trinh, Le Nhu Ho, Nam Ky Khoi Nghia … around Cocobay complex, the real estate trading floors also increase rapidly. Within 500m along Dang Si Dien Ngoc Street, there is more than 20 real estate brokerage units with many plates with the content of “selling land adjacent to Cocobay.”
Contacting with a real estate brokerage floor on this street, the owner here presents more than a dozen land lot of projects adjacent to Cocobay project. He said that in the past few years, there has few people buy coastal land here. Since Cocobay has been deployed rampantly here, the price of local coastal land increased from a few hundred thousand /m2 to 3.6 – 3.7 million/m2.
By June to July this year, when this complex has been put into operation of phase 1, prices in projects near Cocobay also increase sharply to 5-7 million/m2.
Contacting with some brokerage floor on Nam Ky Khoi Nghia Street (Danang), we also find that the trading atmosphere of land adjacent to Cocobay is quite bustling. The owner of Phat Hung brokerage floor on Nam Ky Khoi Nghia Street said that just within one month, his floor with 6 employees can broker successfully 30 land lot.
A hitch from a project
It can be seen that in the real estate market in Vietnam currently, the number of projects that other projects used to “position” for their projects is not too many. It is because in order to do this, the projects’ scale must be large enough to leverage the surrounding areas to develop.
If Phu My Hung urban area became the positioning project for the South, Cocobay is expected to be able to make the same thing in Danang.
Cocobay has a total investment of more than 11,000 billion on a scale of 31ha. It is expected that when being put into operation, it will become the leading high-end entertainment and tourism complex in Southeast Asia and attract an average of over 2 million visitors annually.
According to the investor, this project will provide more than 10,000 condotels to the market. The project possesses a variety of facilities including 82 restaurants ranging from street-cuisine points to Michelin-rated restaurants, 102 large commercial centers and a variety of art performance.
In addition, Cocobay also owns many record items in Vietnam such as the twin tower possessing the highest crystal bridge in the world, the longest swimming pool on air in Vietnam, largest Spa & Fitness Center in Vietnam, …
On July 15th, Cocobay has officially launched phase 1 with nearly 1,000 rooms belonging to Boutique Hotel chain and culinary system. In addition, the contractors also try their best to complete the condotels to put into operation soon.
Currently, Coco Ocean Resort has been constructed to the 20th floor. Coco Skyline Resort – The smart condotel was also topped the roof in July. It is expected to be delivered to customers in the first quarter of 2018. Despite going to hand over, Coco Skyline Resort has a rather good price of just 1.4 billion dong per unit, with the attractive profit commitment rate of minimum 12% per annum for 8 years.
Mrs. Thanh Lich – Deputy General Director of VNG Land real estate trading floor, said: “At present, selling apartment at Cocobay is very easy. Just let your customers visit the project that has put into operation or visit the site, many investors are willing to pour money in the project without convincing. Even before the project is put into operation, many customers have waiting months or draw lots to own apartments in Cocobay.”
The accelerated construction as well as putting the project into operation with the ambition to become the entertaining destination of the world not only attract real estate investors, but also creates a stimulating momentum of supply stimulation for the surrounding areas.
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