Construction begins on Mikasa property project

An artist’s impression of Mikasa property project - Photo: Courtesy of C.T Group

HCMC – Nguyen Hong Joint Stock Co. on Wednesday started construction of its property project Mikasa on Nguyen Hong Street in HCMC’s Go Vap District, which once in place in early 2012 will supply the market with 156 apartments.

The company said in a statement on Wednesday that the 15-story building with total floor area of 29,000 square meters with use the first floor for commercial and service facilities.

The apartment building is designed by Malaysian company GDP Architect, which is also the designer for the Sheraton Hanoi Hotel in Vietnam.  

The total investment of the project is about VND300 billion. CB Richard Ellis is in charge of marketing and sales for the apartment building expected to be opened in January 2012.    

Nguyen Hong Joint Stock Co. is a joint venture between C.T Group and Malaysia-based Parkland.

The C.T Group has 36 member companies operating in six fields, including real estate, tourism, and financial investment.

The group said that three of its subsidiaries are expected to list stocks on bourse between now and 2012. They are C&T International Joint Stock Company, C.T Retail Joint Stock Company and Joint Stock Company, and Green Valley Minerals Joint Stock Company, with combined capital of VND1.663 billion.

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Major property project launched in Hanoi

An artist’s impression of the Royal City project in Hanoi - Photo: Courtesy of Hoang Gia Real Estate

HCMC - Hoang Gia Real Estate Investment and Development JSC announced on Monday to launch apartments and lease retail spaces in a major property project underway in the capital city of Hanoi.

The affiliate of Vincom Corporation said the Royal City project had had the foundation of the first building completed, making it ready to sign contracts with homebuyers and tenants of apartments and retail spaces.

The property project, covering some 13 hectares along Nguyen Trai Street in Hanoi’s Thanh Xuan District, will cost around VND10 trillion.

Royal City will come with European architecture and have sections for hotel, offices, apartments and some 200,000 square meters of retail, an indoor water park, an ice skating rink, an entertainment area and eateries.

In addition to some 70,000 square meters of green space, there will be a 300,000-square-meter underground parking lot for residents and visitors.

The developer said that although it is under construction, around 30% of the project’s total retail spaces have been registered by future tenants.

As scheduled, Royal City will be up and running by late 2013.

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