CapitaLand's First Mass Housing Project In Vietnam Completed On Schedule
19 April 2014
Developed by CapitaLand Vietnam, the construction of PARCSpring commenced in 2012 and celebrated the topping out event in April 2013. PARCSpring is an urban living community along the river promenade in an established Binh Trung Dong Ward in District 2. Strategically located along the fringe of the city centre, the development enjoys easy accessibility to Thu Thiem Tunnel and the future Ho Chi Minh City-Long Thanh-Dau Giay Highway. PARCSpring offers extensive landscaping and communal facilities within a safe environment. The apartments are designed with a functional layout to maximise living space. The project comprise 402 residential apartments across two 18-storey and one 12-storey buildings.
Mr Lim Hua Tiong, General Manager, South Office, CapitaLand Vietnam, said: “Despite market challenges, we are pleased that PARCSpring has been completed on schedule. We initially launched the sales of PARCSpring project in 2012, but due to sales and difficult market conditions, we halted the sales in the same year. Despite that, we continued with the construction works through capital funding from Singapore Head Office to demonstrate our confidence in the project and more importantly to fulfill our sales commitment in delivering homes to our homebuyers as scheduled. Since the re-launch in December 2013, we have sold over 120 units. PARCSpring offers homes for young couples at reasonable prices. We did not plan to construct a swimming pool in the beginning, which contributed to offering more affordable prices to homebuyers. However, we recognised that Vietnamese appreciate a project with a swimming pool facility, and we made a decision to invested more to build a swimming pool. I would like to highlight that we put in a similar level of resources into developing PARCSpring as The Vista. For us, project quality and reputation are very important. Therefore, we put in the same effort to develop mass housing projects as we do for high-end projects.”
PARCSpring offers two and three-bedroom units, furnished in earthly tones for a pleasant living atmosphere with an open kitchen concept and a practical unit layout design. Outside, a leisurely stroll along the landscaped garden on the ground floor will lead residents to a riverside park while a quick sojourn at the roof top garden will give residents a breathtaking views of surroundings and a quiet retreat away from the hustle and bustle of the urban cityscape. Other communal facilities provided within the development include a gymnasium, sheltered function area, outdoor exercise area, a multi-purpose lawn with trellis and seating, a children’s playground and a foot reflexology path.
PARCSpring is a recipient of Asia Pacific Property Award 2012 – Highly Commended in High-rise Architecture. This is a testament to CapitaLand’s commitment to building good quality homes while meeting the essential needs and affordability of the aspiring Vietnamese.
Mr Le Dang Xu, Chairman and CEO of COFICO, said: “We are proud to partner as the main contractor with CapitaLand to build PARCSpring in Vietnam. By combining the reputation and experience of CapitaLand and the execution performance of COFICO, we believe in building the project on schedule with the best quality.”