Noted for their office tower namesake in Hoan Kiem district and the successful Hanoi Hotel, the Tung Shing Group is now preparing to venture into the luxury residential sector with the launch of their Golden Westlake project.
Designed to instigate a shift towards luxury inner-city living in Hanoi, the project offers residents the use of exclusive facilities such as tennis and badminton courts, golfing facilities, kilometre-long jogging tracks, lush parklands, a state-of-the-art two storey health club and a private members’ lounge.
Spanning two hectares of prime land and with direct access to Thuy Khue and Hoang Hoa Tham street, the 350 apartments and 16 villas will be developed with the upmarket buyer in mind.
Designed by an international consulting team, the Golden Westlake project distinguishes itself from the typical apartment towers around the city through its lavish facilities and luxury image.
Presenting a diverse selection to potential investors, future residents are given the opportunity to choose from 22 different styled apartments ranging from one to five bedrooms and unique split-level duplexes. Vietnam’s only tri-level penthouses are also available for the lucky few, which feature a private lap-pool and rooftop terrace.
Ronald Fu, general director of Ha Viet Tung Shing joint-venture company, said Golden Westlake will be the only inner-city foreign-invested project, earning it the right to sell itself with a redbook title.
“Investors can expect to achieve high returns, sustained capital growth and a low-hassle, professionally managed asset. Hanoi’s leasing market is in dire need of something new, exciting and refreshing, and the timing of our project could not be better,” said Fu.
“For Golden Westlake, we over-compensated on quality to guarantee that this pioneering residential project in Hanoi is a resounding success. Investors fortunate enough to secure a residence will, without doubt, profit from their decision,” he said.
Already seen as a responsible and experienced developer, Tung Shing remains consistent in its resolve to withhold reservations about the project until the pre-launch, allowing all registered parties to receive an equal purchasing opportunity. Prices have yet to be made official, however pre-launch figures are expected to aim for the higher end of the market.
“In the lead up to our sales launch there has been an overwhelming response to our on-line survey questionnaire. It is wonderful to see that so many genuine investors recognise the value of long term ownership in Golden Westlake,” he said.
Golden Westlake leads the field not only in design concept, but also the protocols for the efficient running of services by Leonidas Management Co, the property management affiliate of Tung Shing.
Leonidas’s progressive management systems have made inroads for Tung Shing’s holdings, with earnings having more than quadrupled for the Hanoi Hotel and Tung Shing Square, which recently achieved a 100-per cent occupancy rate for the first time since completion in 1997.
The focus of the company is to offer design consultancy, specialist project marketing and management services to key projects.
“Real estate brokerage is of little interest; ours is a boutique service for choice clients seeking personalised and detailed property advice,” said Malcolm Whitehouse, Leonidas general director.
“We tackle day-to-day property issues, drawing from our direct experience in solving problems as a major property investor in Vietnam,” he said.
e are perhaps a little choosier with our clients than some groups as we treat any association as a form of partnership. The chemistry must right, just like in any other relationship,” Whitehouse said.