Luxury apartments go on sale in Hanoi

Real estate developer Indochina Land will launch a sales program for its US$150 million commercial and residential complex in Hanoi this Saturday.

The company, the real estate division of financial service firm Indochina Capital, started work on the 1.6 hectare Indochina Plaza Hanoi complex one year ago at 239 Xuan Thuy Street, Cau Giay District.

It is expected to be one of the most significant commercial developments in the country and an icon the capital city, Peter Ryder, chief executive officer of Indochina Capital told The Saigon Times Daily.

The complex includes two residential towers with 390 luxury apartments of 93 to 290 square meters each, an office tower with 18,000 square meters of Grade A office space and four stories offering 30,000 square meters of retail space.

A wide range of amenities including a club house, fitness center, spa, rooftop landscaped gardens with an outdoor pool and Jacuzzi will also be offered to the residents.

According to sales agent, U.K.-based property consultant Savills, the luxury apartments will be sold for prices starting from $2,540 per square meter.

The complex is expected to come online by 2012.

Indochina Land is also the developer of some grand-scale real estate projects in Vietnam. They include the luxury Nam Hai Resort & Spa in Hoi An, the Indochina Riverside Towers in central Danang, the golf and residential complex, Montgomerie Links and the Hyatt Regency Danang Resort & Spa.

U.K.-listed Indochina Capital is one of the leading investment firms in Vietnam. The group has poured over $1 billion into companies in the country over the past 20 years.

Tags: Vietnam business news, Vietnam real estate