Indochina Riverside Towers Warms up

The Indochina Riverside Towers Project under the Indochina Land Fund has kicked off the marketing programme to sell luxury apartments in Danang City and considered it an effort to heat up the recent freezing real estate market in central Vietnam.

 

The Indochina Riverside Towers Project comprises of a complex with two international standard towers, including commercial zones, 12-storey office towers and 25-storey luxury apartments. This complex, located in 74 Bach Dang Street, Hai Chau District, Danang City, has a total floor area of 32,083 square metres.

 

Mr. Marc Townsend, General Director of CB Richard Ellis Vietnam, which manages the project, said at a customer meeting in Hanoi that the US$27-million project would be the choice for farsighted investors.

 

According to a study of CB Richard Ellis, deluxe apartments are very suitable for increasing rich people in the city as well as foreign investors in central Vietnam.

 

The building is set for completion by the second quarter of 2008 and a part of the building will be put into use in late 2007. Each apartment will cost between US$82,750 and US$395,000.

 

Indochina Land is a wholly foreign-owned fund and is operating very well in Vietnam. It only focuses on the real estate market. Since 1991, this fund invested nearly US$1 billion in property projects like Nam Hai Resort, Building Block at 63 Ly Thai To Street in Hanoi and Saigon Centre in Ho Chi Minh City.