Updated  
July, 28 2012 09:14:56

High rises profit from offering service

HCM CITY — Because of low office-occupancy rates and sluggish apartment sales, a number of projects in these two segments have been changing their initial functions into serviced apartments.

The DB Court in District 3, for example, earlier this month opened doors to tenants with its 38 units, after restructuring the former office building.

With acreage ranging from 50 one-bedroom to 85sq.m. two-bedroom apartments, the monthly rent is from US$1,600 to $2,500, which would bring more profits to office space.

Meanwhile, recently launched projects such as Xi Riverview Palace in District 2, Ben Thanh Luxury Apartment in District 1 and Saigon Pavillon in District 3 have become hybrid projects, offering unsold units as serviced ones. Also joining the trend is the former two-star hotel Saigon City Residence in District 1, which was converted into serviced apartments.

It is expected that by the end of 2015 nearly 3,900 units will enter the serviced apartment market. At the end of this year's second quarter, 33 per cent of that figure were under construction. — VNS

Send Us Your Comments:
Name:
Your E-mail address:
Title:
 

VietNamNews may edit your comments and not all emails will be published.

SEE ALSO

Hightlight

Disabled speaker inspires audience Disabled speaker inspires audience

More than 2,500 people attended a talk by Nick Vujicic, an inspirational speaker without arms and legs, at the White Palace Conference Centre in HCM City's Tan Binh District yesterday.

Crane accident leads to major power cut Crane accident leads to major power cut

A two-hour power failure caused by an incident on the 500kV north-south transmission line hindered road traffic in many southern provinces and HCM City yesterday afternoon.

Spread of hand-foot-mouth disease concerns hospitals Spread of hand-foot-mouth disease concerns hospitals

Hand-Foot-Mouth disease (HFMD) is now at its peak, having infected a total of 796 children in HCM City in April, an increase of 127 per cent against the same period last year.

US steel producers make dumping claim US steel producers make dumping claim

After welded steel pipes and steel wire garment hangers, now welded stainless pressure pipe from Viet Nam continue to face charges of dumping in the US.