The One Central HCM project is covered with mats again?
In early 2021, signs with the name Masterise Homes – an emerging force in the high-end real estate market, suddenly appeared around the Spirit of Saigon project that is “maturing” in Ho Chi Minh City. Not long after, the contractor’s name Newtecons also appeared in the signs, and the project was restarted.
After “changing hands” with Masterise and Newtecons, the project was renamed to One Central HCM. However, it has not been “revived” for a long time, recently, the signs related to Masterise Homes have suddenly disappeared, construction and construction activities have also been stopped. On the official website, One Central HCM is also not present in the list of ongoing projects of this business.
Meanwhile, many information on the market said that Mastersie Homes has withdrawn from the super project in this Ben Thanh quadrangle land due to disagreement between the interests of the parties.
Perspective of One Central HCM project at Ben Thanh quadrangle
Located right in the Ben Thanh quadrangle, this project owns the most favorable location in the city center. HCM. One Central HCM has also been advertised as a 6-star complex project, 224 meters high connected by a retail podium 58,400 m2. The 55-storey West Tower includes 37,400 m2 of Ritz Carlton hotel floor with 250 rooms, 17,800 m2 of Grade A office floor. The 48-storey East Tower includes 58,400 m2 of floor space divided into 350 luxury apartments.
Remember early last year, after the news that Masterise Homes received the project and changed its name to One Central HCM, the selling price of these apartments increased at a dizzying rate. If the analysis report of VNDirect Securities Joint Stock Company says that the Ben Thanh Quadrangle project will be included in the shopping cart of projects open for sale in 2021 with an opening price of about $20,000 – $25,000/m2 (equivalent to $25,000/m2). 460 – 570 million VND/m2), according to many sources in the market at that time, the selling price after returning to Masterise’s hands would be even more “shocking”, possibly up to 30,000 USD/m2, equivalent to nearly 700 million VND /m2. This is an unprecedented high price for an apartment product in Vietnam up to now.
One Central HCM super project has now stopped construction for a while
In recent years, Masterise has emerged with the high-end and super-luxury segments, located in the golden position in Hanoi and Ho Chi Minh City. This business has had a lot of experience in transferring luxury projects.
In the Capital, Masterise once received the transfer of “golden land” 22-24 Hang Bai (Hoan Kiem) from Tan Hoang Minh Group to continue developing the office project – super luxury apartments D’. San Raffles. Previously, this land of 4,071m2 was abandoned, it took Tan Hoang Minh 7 years to get a permit. According to some sources, this super-luxury apartment-office project will be completed around 2023 and has an asking price of up to 570 million VND/m2.
In Saigon, Masterise gained more attention after the transfer of The Centennial Saigon project from the previous investor, Alpha King. The project was renamed Grand Marina. From 2021, the Grand Marina branded apartment project officially starts construction. The price of these apartments offered by Masterise is also at a terrible level, at about VND 200 million/m2, double the level offered by Alpha King 2 years ago.
However, the takeover of One Central HCM (old Spirit of Saigon) does not seem to go as smoothly as previous projects. One Central HCM was originally owned by Saigon Glory Co., Ltd – known as a member of Bitexco Group. After that, this project is said to have belonged to Van Thinh Phat Group before being “mounted” with Masterise Homes. Currently, it is not clear who is the next name to receive this super project.
By Business and Marketing
at Blogtuan.info – Source: cafebiz.vn – Read the original article here
