2022 Phu My Hung completed goals despite market volatility
2022 is a year of volatility not only for real estate but also in many fields, such as finance, banking, stocks, etc. and towards the end of the year, the pressure increases on business and industries.
Phu My Hung is also not outside the general impact of the market. Accordingly, in the fourth quarter of 2022, the demand decreased because the psychology of buyers was more cautious before deciding to spend money on large-value assets.
However, in general, Phu My Hung still completed its 2022 plan. Specifically, in the first 2 quarters of 2022, the company handed over phase 2 of The Peak – the last component of the Phu My Hung Midtown complex and 409 products of The Ascentia and Amelie Villa – the first villa project outside Phu My Hung. In 2022, about 1,000 certificates of land use and house ownership (pink books) of apartments and shop houses in Phu My Hung were completed. This number raises the percentage of pink books granted at Phu My Hung’s projects to 80% of the total of more than 20,000 products offered for sale. The remaining 20% is mainly due to the fact that customers did not submit documents for Phu My Hung to carry out the procedures for applying for a certificate of ownership from the authorities.
A notable item in 2022 is that Phu My Hung cooperated with partners to implement a collection of fully furnished apartments in order to bring to the market a turnkey product line – and move in right away. This is how Phu My Hung has diversified products to serve busy customers; both help customers have real experiences in learning about products and refer to designs.
In terms of urban facilities, in 2022, Phu My Hung put into operation Lawrence S. Ting School Campus 1 and completed the upgrade and expansion of Nguyen Van Linh Parkway from Nguyen Thi Thap St. to Huynh Tan Phat St.
2023 the 30-year milestone and new pathways
Having commitment to deliver projects on time is still a key goal of Phu My Hung in the business plan of 2023. Accordingly, this year, Phu My Hung will complete construction and start handing over 3 projects: The Antonia – located on Nguyen Luong Bang Street; Phu My Hung the Horizon in The Crescent and Cardinal Court right in the International Financial and Commercial Area. The total product of these 3 projects is 776 units.
Continuing to expand the CBD (Central Business District) central axis along the Nguyen Luong Bang axis: From 2016 until now, Phu My Hung has focused on developing projects in Nam Vien area. Specifically, on Nguyen Luong Bang street recently there have appeared Midtown, Hung Phuc Premier, The Ascentia, The Antonia projects. Nguyen Luong Bang St. is also considered as the direction of expanding the CBD area, creating the longest and busiest financial and service district in the city.
Deploying many urban utility projects: From now to 2025, there will be many projects implemented by Phu My Hung in two functional areas of the CBD, namely The International Commercial and Financial Area and The Crescent. Currently, Phu My Hung is in the initial stages of implementing a plan for a series of infrastructure projects and commercial buildings, such as Crescent Mall phase 3, international standard hotels, multi-function buildings, in which, there are projects invested by Phu My Hung, others will cooperate with corporations with famous global brands.
Adding value and diversifying choices for customers
Currently, Phu My Hung is trading the first luxury project – Phu My Hung The Horizon right at The Crescent. This is also the first housing project in the area that is positioned as the heart of the urban area – where there are commercial activities, services, entertainment, shopping, and cuisine that are the most modern and on a large-scale in Phu My Hung and the south of the city.
With a scale of more than 5,800 m2 located in the most beautiful location of The Crescent, Tran Van Tra Street, Tan Phu Ward, District 7, Ho Chi Minh City), Phu My Hung The Horizon project includes 166 apartments and 10 shophouses arranged in two towers A (24 floors), B (9 floors), construction density 49.6% and land use coefficient (FAR) 5.33. This is the first luxury project of Phu My Hung and the first apartment building in The Crescent – the central subdivision of Phu My Hung.
Up to now, the project has reached nearly 80%, expected to be handed over to buyers in the fourth quarter of 2023.
Besides projects in the luxury segment, such as Phu My Hung The Horizon, Phu My Hung always diversifies its business product lines with the desire to help customers have more choices, meeting the needs of each customer group. Accordingly, The Antonia project located on the frontage of Nguyen Luong Bang Street is positioned for customers who love dynamic, modern and youthful living space along with affirming personal value when owning a house on commercial street.
The Antonia was built on an area of nearly 5,900 m2, including two 24-floor blocks with 366 apartments. The project was implemented by a team of architects of planning architecture, landscape and interior design from Germany, Italy, Malaysia and Vietnam. Promoting the prime location of the commercial street frontage, and at the same time resonating with the values of the “green peninsula” of Nam Vien area, The Antonia was designed based on the idea of a “secret garden” through creating a resort space, re-energizing at home following the trend of “Staycation, Recreation”.
The product line is considered a “goose that lays golden eggs” – Shophouses in The Peak, The Grand View, The Panorama projects located on Nguyen Duc Canh, Tran Van Tra, Ton Dat Tien axis; Riverside Residence and Hung Phuc Premier located on Nguyen Luong Bang axis; Scenic Valley 2 in the Health Care Nursing Area is also attracting a lot of attention from customers.
Investing in shop houses has never been a channel that disappoints buyers because the shop’s long-term value and flexibility of use: renting, self-business or transfer is also very easy. Especially, for shops in public areas – which attract a large and stable number of visitors, this is a very strategic investment channel.
The potential of shop business in Phu My Hung is highly appreciated based on the location. The products announced this time are located at the frontage, on the main street, possessing the advantage of convenient transportation, easy business, both attracting local customers and approaching passing by visitors. Most of these products are being rented by famous brands from investors.
This also means that when owning products from this shopping cart, customers have available rental demand without having to search, shortening the payback period, and having good liquidity due to inherent finiteness of shop products.
Currently, the Company is also in the initial stages of implementing projects outside Phu My Hung in Ho Chi Minh City, neighboring provinces as well as the Northern region.
Source: Phu My Hung