Singapore, 7 January 2016 - Hongkong Land and SonKim Land will jointly launch The Nassim in Singapore next weekend 16 to 17 January 2016. The Nassim will be the first luxury property from Vietnam to be launched for sale in Singapore this year.
The Nassim is a premium condominium project, located in the heart of Thao Dien in prime District 2 of Ho Chi Minh City. On offer in Singapore are carefully selected very limited numbers of one- to four-bedroom units, starting from approximately S$195,000 for a 1-bedroom apartment.
The Nassim is set to establish a new standard of luxury living in Vietnam, designed and constructed to create premium residential spaces in one of Asia’s most vibrant and fastestgrowing cities today. Bearing resemblance to the prestigious Nassim locale in Singapore, The Nassim is located in Thao Dien, an exclusive and affluent enclave surrounded by single-storey bungalows and low rise private residences. Located just about 200m away from the scenic Saigon River, The Nassim accords its residents with panoramic river views. Thao Dien is also home to several top international schools, quaint F&B outlets and other lifestyle amenities and creature comforts, making it the choice address among affluent Vietnamese and much sought after by the expatriate community. The upcoming An Phu Metro station (Ho Chi Minh City’s first Metro line) will further add to the convenience and desirability of the location. CBRE Vietnam Research predicts properties within a ten-minute walk to Metro stations will command a 10 per cent – 20 per cent premium over those that are sited further away.
Prices in the high-end and luxury segments of the market have recorded growth since the market bottomed out with sales volume of prime-grade condominiums starting to pick up since H2 2014. With encouraging sales momentum, developers progressively broke ground and launched more prime-grade projects to cater to the demand of the growing affluence. To-date, high-end and luxury properties remain the most sought after properties by owner-occupiers and investors. Well located and well designed properties, built by reputed developers are commanding good rents from the growing expatriate community. CBRE Vietnam Research expects price appreciation will be most pronounced in the high end segment. New luxury properties at very prime locations such as those in District 2 will probably reach S$325-377 psf in 2016.
Robert Wong, Executive Director of Hongkong Land, said “The Nassim offers the opportunity for Singapore investors to buy into Vietnam’s growing high-end prime residential market. Thao Dien is a major expatriate community in HCMC and as such, the natural choice for a luxury project. Vietnam’s real estate market has been growing, especially in the high-end segment of the condominium market. After years of conducting extensive research, we decided to intensify our presence and business here by collaborating with SonKim Land, a reputable and well regarded local developer in Vietnam. The Nassim is a true luxury project that will be a welcome addition to Hongkong Land’s regional residential portfolio, and a great example of successful strategic partnerships with local developers.”
Hongkong Land and its partner SonKim Land will seek to bring luxury living features found in similar grade projects in other gateway cities to Vietnam. Comprising only 238 exclusive units, The Nassim will be one of the rare projects in Vietnam to feature private lift lobbies for the premium 3- and 4-bedroom apartments. The project will also offer a host of recreational facilities including a 25-metre pool, poolside pavilion, children’s play facilities, a yoga room and reading room. All apartments will come with full-height windows, offering panoramic views of the Saigon River or HCMC’s CBD and city skyline. Residents will enjoy ease of access to shopping malls Vincom Mega Mall Thao Dien, restaurants, international schools and clinics. The project will be completed in 2018.
CBRE is marketing the project.
Leong Boon Hoe, Managing Director, CBRE Realty Associates said “The Nassim will be one of the very few and limited high-end condominium projects to be classified as luxury class available for sale now. Early investors will reap very good growth potential given the very limited number of projects of this category in HCMC at this moment. As the city matures and ride the wave of economic reform and increasing foreign direct investments, the growing affluence and confidence of the market in investing into high-end condominium segment, it is not surprising The Nassim sold very well when it previewed in HCMC just two months ago. The fact that the large three-bedroom and four-bedroom apartments with picturesque Saigon River views sold extremely well and that all the penthouses have been sold out, majority to Vietnamese, is a very good testament of the growing demand for properties of such class. We are confident The Nassim will be very well sought after by savvy Singaporean investors.”
The Nassim sales exhibition will be held over the weekend from 16 to 17 January 2016 at the Grand Hyatt Singapore Residence 5. Two seminar sessions will be held daily.
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