2 June 2011
Strong response for Riviera Point ahead of public launch
The integrated development will set new benchmarks for vibrant waterfront living in
Ho Chi Minh City
Buyers were showing their interests towards Riviera Point
Riviera Point, the tallest condominium development in District 7, Ho Chi Minh City, Vietnam, has been receiving positive response ahead of its public launch next weekend, with over 70% of 193 units released for sale sold since its soft launch in January 2011.
The project is jointly developed by Keppel Land Limited's wholly-owned subsidiary, Elaenia Pte Ltd, and established local property developer, Tan Truong Co, Ltd.
Apartments at Riviera Point are priced from VND30, 723,000 psm (US$1,460 psm). Buyers are mainly locals with the rest comprising expatriates and overseas Vietnamese (Viet Kieus) who are eligible to purchase.
Mr Linson Lim, President (Vietnam, Thailand and the Philippines) of Keppel Land International Limited said, "We are encouraged
by the continued strong interest in Keppel Land's homes in Vietnam such as The Estella and Riviera Cove, and now Riviera Point. With its prime location, quality and integrated concept, we are confident the development will continue to draw more home buyers.
"Many buyers have expressed their appreciation of a vibrant waterfront lifestyle development and confidence in Keppel Land as a reputed foreign developer. The return of positive sentiments in Vietnam's growth has also fuelled interest from expatriates and Viet Kieus who want to share in the rental and capital appreciation of quality properties," he added.
The initial collection of homes at Riviera Point comprises 549 units and is progressing on track with completion expected in 2014 (the completion date has since been revised to 2015). The entire waterfront development, to be developed in phases, consists of a total of 2,400 units spread across 18 residential towers.
Situated along the 40-metre wide Ca Cam River, Riviera Point is a 15-minute drive to District 1 and only five minutes away from the established residential precinct of Phu My Hung via the new Phu Thuan Bridge, as well as a short drive to other districts via Phu My Bridge.
Targeted at the middle-income market, Riviera Point will offer residents a distinct leisure and luxurious lifestyle. About 60% of the site area is dedicated to a comprehensive range of recreational facilities and amenities. A wide variety of shops and restaurants by the riverfront is also set to enhance the lifestyle of the residents. The waterfront development will also feature round-the-clock security and full electricity back-up.
Other key highlights of Riviera Point are a 404-metre recreation deck on the fifth storey of the development and sky gardens in every tower.
About Keppel Land Limited (Keppel Land)|
With its first mover advantage, Keppel Land was named the Best Developer in Vietnam in 2010 by Euromoney, a leading global financial magazine. One of the largest foreign real estate investors in Vietnam, Keppel Land has a quality portfolio of properties in Hanoi, HCMC, Dong Nai and Vung Tau ranging from Grade A offices, residential properties, integrated townships to award-winning serviced apartments.
In HCMC, Keppel Land is currently developing Riviera Point, a 2,400 -unit waterfront integrated lifestyle development with both residential and retail facilities in District 7, and The Estella, a prime 1,393-unit condominium development in District 2. It has plans to expand its current Saigon Centre to create an iconic architectural landmark in the central business district comprising premier office buildings, serviced apartments and retail components.
To-date, the Company has a pipeline of about 22,000 homes, two office buildings and serviced apartments in Vietnam.
About Tan Truong Co, Ltd (Tan Truong)
Tan Truong has created refreshing and green living spaces in the heart of District 7. Phu Thuan Villas has received strong praise from residents and investors alike.
The premium villas and modern apartments were inspired by sleek Korean designs, giving the area a clean, sharp and vibrant feel. Tan Truong is an emerging property developer with a growing reputation based on trust and satisfaction, the company is committed creating distinctive developments in the Vietnamese real estate market.