4:01:08 PM | 8/10/2008
Hiep Phu Gia Ltd Co, a local real estate developer, is carrying out a US$300-million apartment project in Ho Chi Minh City, Vietnam News Agency reported.
Richland Hill Complex covering over 310,000 square meters of construction floor area includes 1,100 apartments. In which, 30,000 square meters are designed for shopping and entertainment centre.
The complex also comprises office towers Grade A with over 25,000 square meters of floor area which is capable of accommodating hundreds of companies.
The project is built under the high-rise building model with overhead gardens which is a favourite design in the New York.
Construction of the project located at District 9’s Hiep Phu ward is scheduled for completion early 2011.
According to the local Securities Investment newspaper, Eastern Asia Bank (EAB) has invested in the project through the house purchase support programme.
Accordingly, customers who want to buy apartments in Richland Hill are allowed to borrow 50 per cent of the value of that apartment for 20 years with the preferential lending rate of 17 per cent annually in the first five years, and open a saving book based on initial payment ratio of buyers at EAB. (VNA, Securities Investment)
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