US firm appointed to sell Metroplex project
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Vina Capital Real Estate, Vietnam’s largest real estate developer, has appointed Cushman & Wakefield to sell its Metroplex project in Phu My Hung Township in Ho Chi Minh City’s District 7.
The development site of the 9-floor Grade-A office building with 14,000 net square meters is located off Nguyen Luong Bang Boulevard, one of the main arterial road links through the township.
It site is located within a stone’s throw from key landmarks including the Parkson Department store, Saigon Exhibition and Convention Center and the Crescent Mall.
The building, the first of its kind in Vietnam being constructed to LEED certification - new standards in environmental and efficient design, will complete within 18 months of the building’s pre-sale, or alternatively when 40 percent of all floors the have been sold.
Vina Capital is seeking a buyer for the whole building, but will also consider selling individual floors.
“In recent years there has been a significant increase in office occupiers relocating from the District 1 & 3 to Phu My Hung to benefit from lower occupancy costs, reduced traffic congestion and the wealth of amenities which Phu My Hung has to offer,” said Robert Johnston, Associate Director of Cushman & Wakefield.
“Key examples of this trend include Unilever and Manulife who have relocated their headquarters to Phu My Hung during the last 3 years,” he added.
Cushman & Wakefield, founded in 1917, is the world's largest privately-held commercial real estate services firm with 234 offices in 61 countries and more than 13,000 employees worldwide.
