This is the first holiday home development to offer free rental of land for customers in Vietnam.
The Vinh Phuc province-based resort is selling an unfurnished villa for at least VND2.8 billion ($133,000). The developer - Flamingo Dai Lai Joint Stock Company - claimed the price covers the construction and landscaping costs of the villa, without taking land price into account.
Pham Vu Hai Anh, operations director of Flamingo Dai Lai Resort, said the promotion would support customers who have are being squeezed by the economic downturn.
In addition to free land rental, the developer is also offering many other incentives for buyers such as free management fees for two years and a two-day vacation valued at VND30 million ($1,428).
Phan Thanh Mai, secretary general of the Vietnam Real Estate Association, said: “The project is supported with good transport system, infrastructure and a beautiful landscape that will create a modern living standard for its residents.”
He added that the villas’ value in this project would be increased within the next year, when infrastructure is completed. Flamingo Dai Lai is only 20 kilometres from Noi Bai international airport and 45km from Hanoi’s centre.
The resort is designed with more than 350 villas for sales and lease. To date, it has completed construction and is running 26 villas at room rate of VND9 million ($428 million) per night. Meanwhile, two largest villas called Thien Yen are being offered for VND24 million ($1,150) per night.
Bich Ngoc (vir.com.vn)