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Why Vingroup Launches Vincity?

Why Vingroup launches Vincity?

Vingroup is a big name in the real estate market in Vietnam with luxury apartment brands – Vinhomes, Vincom – Vincom, Vinpearl – real estate. The Group has expanded its business strategy with its popular Vincity apartment line, opening at Vincity District 9 with a floor area of 30,000 units. Why “he” decided to step into this market?

What is the real demand for real estate in Ho Chi Minh City?

According to statistics, Ho Chi Minh City is currently the most populous city in Vietnam. At the moment the city is home to over 13 million people living, studying and working. Average TP. Ho Chi Minh City has an additional 500,000 households needing to resettle. Every year, up to 50,000 newlyweds demand homes, especially young couples, or low-income earners.

View detail information of Vincity District 9 here:https://realestatevietnam.com.vn/properties/vincity-grand-park-apartment-in-district-9-ho-chi-minh-city/

Another JLL report, in the first quarter and the second quarter of 2017, 8,982 apartments sold successfully in Ho Chi Minh City. In total sales, units priced at less than VND25 million /sqm ($1,200 / sqm) accounted for 47%, of which 38% were mainly from District 8, District 12 and Binh Tan District.

Why Vingroup launches Vincity?
The launch of VinCity has made Vingroup a real estate developer with extensive operations in the real estate market.

The Ho Chi Minh City Real Estate Association (HOREA) real estate market report for the first half of 2017 also pointed out that the Department of Construction has confirmed 32 future housing projects in the city that qualify capital mobilization with 16,506 apartments.

In particular, the segment of popular housing has 6,206 units (37.6%); The middle-class housing segment is 5,136 units (31.1%) and the remaining segment is the high-end housing segment with 5,164 units (31.3%). If compared to the same period in 2016, the segment of luxury housing increased 1.8 times; The popular housing segment rose 1.9 times. The market is expected to maintain high absorption rates during 2017-2019. The absorption rate of the popular segment, which ranges from 40% to 50%, is expected to reach nearly 60% by 2017.

Vincity – When “big brother” Vingroup does not miss the segment of housing

Probably because of the large market and the potential in the medium-end segment, he is big in the real estate market of Vietnam – Vingroup, after a series of high-end projects have successfully launched and dominate the market, has entered the market potential.

Why Vingroup launches Vincity?
Vingroup will build from 200,000 to 300,000 VinCity apartments with reasonable special price in the next 5 years.

The launch of VinCity has made Vingroup a real estate developer with extensive operations in the real estate market. With the official entry into this segment of the average housing, Vingroup has become a leading real estate developer in Vietnam, operating all over the segment of the market of high-end real estate: real estate, commercial real estate and resort real estate. See also: Compare Vincity apartment project in District 9 with neighboring projects.

If Vinhomes offers the outstanding standard living to customers, combining real estate with the high standard of service, VinCity is aiming for a large number of consumers with suitable level but still ensure quality. – synch – utility according to a general trend of developing countries in the world.

In the first phase, VinCity will be implemented in seven provinces and cities including Hanoi, Hung Yen, Ho Chi Minh City, Hai Phong, Thanh Hoa, Ha Tinh, Nha Trang. In Ho Chi Minh City, VinCity’s projects will be invested in suburban districts, contributing to the formation of satellite towns, reducing the population concentration and avoiding traffic jams for the central areas of the largest city in the country. According to the plan, Vingroup will build from 200,000 to 300,000 VinCity apartments with reasonable special price in the next 5 years.

Why Vingroup launches Vincity?
Vincity District 9 with an area of 356ha, is expected to have about 30,000 apartments

With the project Vincity urban District 9, Vingroup promised to pour into the market more than 30 thousand cheap apartments from 700 million / unit when the project is completed. Perhaps this is one of the largest and most closed residential areas in HCMC up to now, secured by the name Vingroup – the corporation was voted as the number one business in the top ten investors Trust in Vietnam.

A large number of large-scale projects invested by Vingroup have been put into operation, partly to prove the quality of the corporation such as Vinhomes Times City, Vinhomes Riverside, Vinhomes Royal City, Vinhomes Gardenia, Vinhomes Central Park …

The general point of all projects with the investment of Vingroup is that the supply is always guaranteed a quality of works in parallel with the contractor Coteccons and always handed over the construction schedule set. Complete quality from the infrastructure system, synchronous utility, service quality, the management system can be completely verified by the reality.

VinCity District 9 is expected to open for the first time nationally in September 2017.

Overview of the Vincity District 9 project

  • Investor: Vingroup
  • Project location: Nguyen Xien street, Phuoc Thien ward, Long Binh Ward, District 9, Ho Chi Minh city. Ho Chi Minh. (Cu Phuoc Thien old)
  • Total area: More than 356 hectares.
  • Building density: From 20 – 25%
  • Executor: Connections – the largest contractor in Vietnam.
  • VinCity apartment height: 22 – 25 floors.
  • Area: VinCity Apartment District 9 covers an area of 36sqm – 90 sqm(1 – 3 Bedrooms).
  • Design: the apartments will have balconies, nice view, overlooking the Dong Nai River.
  • The height of floor: about 3.1m.
  • Utilities: parks, schools, hospitals, supermarkets, swimming pools, sports courts, movie theaters, amusement parks, etc.
  • A selling price of VinCity apartment District 9:
  • One Bedroom Apartment: From VND700 million
  • Two Bedroom Apartment: From VND900 million
  • 3 Bedroom Apartment: From VND1.1 – VND1.2 billion
  • Starting time: Q2 2017
  • Expected to be handed over and put into operation: expected 2019.
  • Legal: Pink book. Vietnamese people (permanent); Foreigners (50 Years) may extend the statutory period by another 50 years.

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