Mai Việt Land Forays into Ho Chi Minh City’s Real Estate Market with Thao Dien Green Project
On November 21st, Mai Viet Land signed a strategic cooperation agreement with SIC Real Estate Investment Joint Stock Company to become the business cooperation unit and general agent for the Thao Dien Green project. This move solidifies Mai Viet Land’s position as one of the Hanoi-based real estate companies swiftly entering the Ho Chi Minh City market amid the post-pandemic southern expansion wave.
During the event, Mai Viet Land also awarded certificates to its strategic partners. Accordingly, Karahomes Investment Consulting Company became the product consulting unit for the project, and 10 officially selected distribution agents will act as important “associates” in the distribution strategy of Thao Dien Green.
Located in the prestigious and vibrant Thao Dien ward of Ho Chi Minh City’s District 2, Thao Dien Green spans across 5,000 square meters and comprises 25 floors, offering 204 apartments with diverse floor plans. The project boasts a comprehensive range of internal utilities, including a swimming pool, gym, BBQ area, children’s playground, and a dedicated commercial center for residents. With construction already completed, the project is ready for immediate occupancy upon contract signing.
“Ho Chi Minh City’s real estate market is incredibly dynamic. The market experienced a lull in the past few years due to objective factors and macroeconomic challenges. However, this period of stagnation presents an opportunity for those who can anticipate and act ahead of the curve,” shared Mr. Mai Viet Vinh, CEO of Mai Viet Land Real Estate Joint Stock Company.
According to a recent report by the Ho Chi Minh City People’s Committee to the Ministry of Construction, the city’s real estate market has emerged from its stagnant phase. Specifically, in the third quarter of 2024, 31 commercial housing projects with 31,167 apartments were deployed in the city. Additionally, four projects comprising 1,611 houses were confirmed eligible for capital mobilization for future commercial housing products, with a total value of VND 9,118,893 billion. The market’s recovery has paved the way for the growth of real estate businesses, with 1,051 real estate enterprises registered for establishment in the first nine months of the year.
Assessing the Ho Chi Minh City real estate market, Mr. Nguyen Van Dinh, Vice Chairman of the Vietnam Real Estate Association, emphasized the city’s unwavering position as the country’s leading economic center. He attributed this to the ever-increasing economic development and urbanization, which, in turn, fuels the surging demand for housing. “The growing population, economic recovery, and improved transportation infrastructure will present numerous opportunities for investors and homebuyers seeking their ideal residence,” affirmed Mr. Dinh. “In this context, identifying trends and formulating prudent investment strategies will be the key to achieving sustainable success in the future,” he added.
Mr. Dinh also noted the return of both businesses and investor groups from Hanoi, attracted by the surging property prices in the capital during the past year. Condominiums, particularly those ready for immediate occupancy and offering rental income potential, remain the preferred choice among investors.
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