Property developer Sun Group sold 80 condotels in Premier Residences Phu Quoc Emerald Bay and 30 villas in Premier Village Phu Quoc Resort to investors in HCM City on March 27.
The property developer launched its sale at an event that attracted more than 500 local and international investors.
Investor Huynh Thao from Phu Nhuan District said she had invested in the projects because of Sun Group’s reputation.
Troy Griffiths, deputy managing director of Savills Viet Nam, said the group’s projects had four outstanding advantages of having international-standard real estate, global-level designers, well-known managers and prime locations that bring sustainable profitability.
Thus, he said, foreign investors from Singapore, Taiwan and Hong Kong also paid great attention to the group’s products.
Marc Townsend, managing director of CBRE Viet Nam, said condotel investment has been developing in the Asian market over the last 30 years, especially in well-known destinations such as Phuket in Thailand and Bali in Indonesia. Having advantages similar to the two above-mentioned destinations are Sun Group’s projects in Bai Khem Beach and Ong Doi Cape, which are among the most natural and beautiful beaches in Phu Quoc Island in southern Viet Nam.
However, Townsend said the Sun Group offered more competitive and profitable opportunities to investors of its projects, with a guaranteed nine per cent profits over 10 years.
Marc Townsend said, “There is no other international market of real estate that can offer such a deal,” especially when the local inflation rate was stable.
Together with projects in Phu Quoc, Sun Group has developed the InterContinental Danang Sun Peninsula Resort and Premier Village Danang Resort in Da Nang and the world’s longest three-rope cable car system that connects Muong Hoa Valley with Fansipan Mountain, the so-called “Roof of Indochina” in the northern Lao Cai Province.