Local developers launch low-cost condos

Hai Thanh Trade and Production and Vinaconex Xuan Mai companies announced on Monday to start marketing their affordable condo project named Binh Tri Dong B on Ten Lua Street in HCMC’s Binh Tan District.

The apartment building is in a residential project called Hai Thanh – Ten Lua, which covers some 6.5 hectares and is designed with 104 garden houses, 31 row houses and three 12-story buildings with 352 apartments measuring 52 to 75 square meters each.

The developer said those apartments would be offered at VND10.5 million per square meter. The total value starting from around VND550 million per apartment is believed within the reach of many people, especially white-collar workers.

The company said it had partnered with banks such as Sacombank, HDbank and Techcombank to give financial support to homebuyers, offering loans with a down payment made within 20 years.

The condo project is scheduled for completion by the first quarter of 2012.

In another project, Binh Duong Trade and Development JSC late last week launched the second phase of a sales program for its condo project named TDC Plaza under development in the southern province of Binh Duong, some 35km from HCMC.

TDC Plaza is a component in Binh Duong New City, which covers some 1,000 hectares of land encompassing six communes in Ben Cat District and Thu Dau Mot Town in the province.

The project requires some VND1,000 billion for development and is designed with five blocks of buildings with 779 apartments from 82 to 117 square meters.

Doan Van Thuan, general director of the company, said TDC Plaza would hit the market with 150 apartments in the second phase of the sales program, with prices ranging from VND15 million to VND16 million per square meter.

The company wrapped up its first phase with 100 apartments sold out. Nearly half of the buyers came from HCMC, while investors from Hanoi accounted for 30% and the rest was locals.

The developer offers potential buyers down payment of up to eight years, instead of around three years as often seen.