Vingroup, MB join hands to support homebuyers

Military Bank (MB) and Sai Dong Urban Development and Investment JSC, an affiliate of Vingroup, have signed a cooperation agreement on providing credit support to customers of the Hanoi-based urban area Vincom Village.

Under the agreement signed last Thursday, those who buy villas in Vincom Village can access loans worth 80% of the contract values. Particularly, customers will enjoy a lending rate of 10% per annum in the first six months, and the annual rates at five percentage points lower than bank interest rates in another six months.

Le Khac Hiep, vice chairman of Vingroup, said the cooperation agreement represented the effort to accompany customers in the current tough times in order to create optimal conditions for customers to access capital.

Covering more than 183 hectares in Long Bien District, Hanoi, Vincom Village got off the ground in May 2005. The first phase of the project has been completed.

The entire 1,000 villas of the project are now available to customers. Other auxiliary facilities such as Vincom Center Long Bien, international schools, sports centers, entertainment areas and parks have also started service. - Source: Saigon Times