Đà Nẵng constructions accelerate for regional summit
Work is being speeded up on several unfinished constructions in Đà Nẵng City in order to take advantage of tourism opportunities that will emerge in the wake of the Asia-Pacific Economic Cooperation (APEC) 2017 summit.
The city has invested hundreds of billions of Vietnamese Đồng on developing infrastructure to serve the summit. The Exhibition and Convention Centre has been upgraded to the International Convention Centre; another convention centre has been built to serve the APEC CEO Summit 2017; the Tuyên Sơn Stadium has been given an uplift to host the summit’s Gala Dinner, and a new terminal with a VIP lounge has been installed at the Đà Nẵng International Airport to welcome heads of states attending the meeting.
The city’s hotels are preparing to welcome 10,000 representatives participating in the APEC Week, including the Secretary-General of the United Nations, 21 leaders of member economies, business owners and other representatives.
The city has examined 13,000 hotel rooms and is speeding up the completion of several hotel constructions for the significant occasion, including the Hoa Binh Green Da Nang resort project.
The project’s investor seems to have stalemated themselves in aiming to complete the project in time for the summit. They have less than a year to finish the 1,700-apartment project, which would be impossible without strong financial support and loads of experience.
The quality demands are high for this project, requiring 250mm thick concrete walls able to resist level 8 earthquakes. Its rooms must also be completed to perfection, with the gilding of all banisters, sanitaryware and door locks.
Despite these challenges, Nguyen Huu Duong, chairman of the Hoa Binh Company, is confident that the resort will be completed in time for the summit. Construction is taking place on the fifth floor of the resort now. The completion rate is 6-7 days per floor.
Duong’s confidence comes from the experience of successfully building high-quality constructions within a short period of time, including the Hoa Binh Twin Towers in Hà Nội, which includes the joint-venture (with the Ascott Group) building Somerset.
Also in the capital city, the group has invested in the Hoa Binh Green City and the Hoa Binh Green Apartment complexes. The quality of these buildings has satisfied the most demanding Japanese businessmen. The group has been rated one of the 10 most credible real estate investors by the Vietnam Report.
“We have prepared human and material resources to accelerate work on the Hoa Binh Green Da Nang resort with an unstoppable spirit,” Duong said. “At the same time, we are closely supervising the work to ensure that construction is completed with the best quality possible.”
Duong said world-class events like the APEC Summit and the two-month International Fireworks Festival, the doubling of the local international airport’s capacity and diverse tourism products are set to be key factors in a tourism boom for the city.
Any purchase of a Hoa Binh Green Da Nang Apartment would enable the buyer to earn up to 12 per cent per annum up to year 5, and from year 6 to 10, the rates would be in the 10 per cent range. Buyers will also receive 20 free night stays annually, which if unused, can be exchanged for 2.5 per cent of their return on income. Thisis the project with the highest rates of return on the market at present, as well as the only hotel apartment project backed by Indovina Bank.
The resort features a 12-storeyed building that includes exercise areas for the elderly and those looking to lose weight, a playground for children, a museum and an international-standard clinic whose results are accepted by major hospitals worldwide.
It also features entertainment facilities like the world’s highest infinitive gilded swimming pool, a garden that presents 10 gilded world’s wonders, as well as night market areas and casinos.
According to the investor, buyers who pay at least 95 per cent of total cost upon signing the contract will receive a preferential prepayment cash flow and a 5.5 per cent discount on the total contract value. For buyers paying 30 per cent of the contract value and using the preferential loan package, the investor would not have to pay any interest until the purchase is complete. In addition, 50 people registering to buy between December 15, 2016 to January 31, 2017 will receive the gift of an iPhone 7 worth VNĐ20 million (US$902).
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Distribution agency: The real estate project supermarket system (STDA)