Grand Center Quy Nhon is developed by Hung Thinh Corp and will comprises 2 towers (condominium and shophouse tower and officetel tower). Total land area 8,027 sqm, with 824 apartments and 22 shophouses.
Condominium tower has 42 stories, 824 units. Unit types: 1 BR 49.7sqm, 2BR 70 sqm, 3BR 89sqm. Ground floor to 4th floor are shophouse and 5th floor to 42nd floor are apartments.
Officetel Tower has 21 stories. Ground floor to 4th floor is commercial space and 5th floor to 21st floor to be officetel.
Freehold for Vietnamese citizens. Foreigners living in Vietnam with a valid Visa may purchase for the express purpose of residing in the property. Under Vietnamese Law a foreign individual can occupy a “land use right” for up to 50 years. If married to a Vietnamese citizen or a Việt Kiều, receives the same ownership rights as a Vietnamese citizens. Foreign companies, branches, representative offices of foreign companies, foreign investment funds and branches of foreign banks that are operating in Vietnam are also entitled to purchase property of residential projects. This is not to be construed as legal advise.
50 years remaining on Land Lease from Q3 2019.
Hung Thinh Corp won auction event in June 2019. Open auction price was about US$12.295 million by People Committee Quy Nhon's.
Q4 2019: Average asking price per sqm at launch is reported to be about US$1,797 per sqm (excluding VAT). This equates to about US$89,000 for an typical unit say 49.7 sqm 1 bedroom apartment. Other asking price rates see table above.