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Vietnam Real Estate Market News

Vietnam Business » Vietnam Real Estate Market News » SSG Group launches first phase luxury residence

SSG Group launches first phase luxury residence

SSG Group Joint Stock Co late last week announced to have wrapped up the first phase of its property project named Saigon Pearl located along Nguyen Huu Canh Street in HCMCs Binh Thanh District after five years of construction.

This is a residential complex covering a 10-hectare site stretching along the Saigon River and designed with a villa section including 126 units, eight 37-story apartment buildings, a complex for office building, hotel and commercial center and other facilities.

Dinh Ngoc Ninh, general director of SSG Group, said the group had invested some US$750 million to develop Saigon Pearl, whose first phase includes two blocks of buildings, Ruby and Topaz, with some 1,000 apartments from 84 to 140 square meters each. There are penthouses and duplex apartments designed on the four top floors of the buildings.

Ninh said the group would finish the Sapphire building in October this year, providing the market 526 new luxury apartments and offering more options for homebuyers in the city. As planned, 50% of the Sapphires apartments will be launched into the market by June.

He said the second phase of the project would be continued with other important serviced facilities. As scheduled, the developer will put into service the Saigon Pearl International School in August and launch a section for retail podium, banking service and postal and communication services. In another project it plans to invest VND350 billion to develop a primary school and a bilingual high school which will receive students by autumn next year.

Ninh said the group would spend some VND400 billion building a yacht club and a marina that will stretch 500 meters along the Saigon River. When in place, the marina will accommodate 130 canoes and yachts, and those services are expected to offer business opportunities for the company as it can sell leisure and entertainment services on the river.

Construction for next year will include a complex of office building, hotel and commercial center which requires an investment of US$300 million.

Established in 2003, SSG Group has 18 member companies active in real estate investment, education development and mine ores.

Vietnam Business And Financial News Network. Source [english.thesaigontimes.vn]

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