Several new ready-built projects broke ground in the first half, including SLP Long Hau and KCN Ho Nai in the south. In the north, Core5 Hai Phong broke ground at Deep C II and will deliver 96,000 m2 of ready-built factories and warehouses in 2023, and Vietlog Industrial will deliver 29,000 m2 of modern warehouses in Hung Yen in 2023.
Yamakei, which was completed in 2021, is gearing up to receive its first foreign guests this winter with the reopening of Japan’s borders. All units come equipped with a private onsen tub with mineral-rich water tapped from 17 storeys below ground. Yamakei Residences was conceived as the residence portion of a bigger hotel resort project that is due to be completed by 2026. Talks are ongoing with a global luxury hospitality brand to eventually manage the hotel and Yamakei Residences.
Upon completion by the first quarter of 2023, VLI Hung Yen will feature 29,000 square metres of Grade A warehouses with modern standards. At the groundbreaking ceremony, Alex Lin, co-founder of Skymont Capital said, “VLI Hung Yen marks a new milestone for us in the Vietnamese industrial warehouse market, representing our commitment to our investors, partners, customers, and local authorities in developing world-class industrial warehouses in Vietnam.”
Brasada Estates, a magnificent enclave of luxury homes nestled atop the hillsides of the San Gabriel Mountains in San Dimas, has announced a significant milestone: its first official closings and move-ins, set to take place this month. Since its inception, this esteemed community of 65 exquisite residences by distinguished luxury homebuilder Grandway Residential has garnered strong interest and demand.
That’s because high-end apartments in the Vietnamese city reached a new average price high of US$5,320 per sq.m. in Q3 2019, an increase of 64.9% year-on-year, according to JLL. Large overseas investors are shifting capital into the luxury residence market through partnerships with local developers like SonKim Land to capitalise on the country’s robust real estate conditions and its strong economy.
Son Kim Land Corporation, a pioneering luxury property developer in Vietnam, last week announced the successful closing of approximately $121 million in fundraising from an international investor consortium.