Indochina Land starts offering tourism properties
Hyatt Regency Danang Resort and Spa has been developed in a 20-hectare site stretching some 650 meters along the beach near Ngu Hanh Son Mountains.
The complex is also in close proximity with well known tourist attractions including three World Heritage sites – the ancient town of Hoi An, the former imperial capital of Hue, and My Son Sanctuary.
The estate comprises of 174 luxury condominiums, 27 three-bedroom villas and some 200 hotel rooms and suites. When operational in 2011, it will be managed by Hyatt Hotels & Resorts, a member of Global Hyatt.
Michael Piro, Indochina Land director of sales and marketing for the northern and central regions, said potential buyers had been touring the site asking for information about the project since the developer launched a replica apartment on April 30. The starting condo price is US$200,000 per unit and US$1.1 million per beachfront villa, Piro said.
Buyers will make payments in eight phases, 10% in each of seven phases based on the value of the product. In the remaining phase, they will pay 30% upon property transfer. Unlike other properties of this type, Vietnamese buyers can benefit from a freehold tenure while foreign ones will be able to purchase offshore ownership rights which will give them real access to the exciting Vietnamese property market.
They can take part in the Hyatt managed rental program. Both hotel guests and residence owners will be able to enjoy services including dinning at a choice of five restaurants and bars, relaxing at the spa, and enjoying a wide array of recreational amenities, swimming pool and fitness facilities, according to Indochina Land.
A representative of Savills Vietnam Limited, the project’s sales agency, said many potential buyers had visited the model apartment over the last several days. “We’re pleased with the initial sales volume,” said Nguyen Dung Minh, head of sales at Savills. The distributor said condominium and villa purchasers were Vietnamese and foreigners. The project developer will launch a condominium and villa selling program at the five-star hotel Park Hyatt Saigon on May 26.
Indochina Land broke ground for the project in March last year. This is one of the four projects Indochina Land has been developing in the central coast at a combined cost of about US$130 million. The other three are the luxury The Nam Hai resort, Montgomerie Links Vietnam golf course, Indochina Riverside Towers. Hyatt Regency Danang Resort and Spa will be the second property to be managed by Hyatt in Vietnam.
