Pacific Property and Infrastructure Development Joint Stock Company (PPI) is calling for investments into its two property projects in HCMC’s Thu Duc District. The two projects are the riverside complex Water Garden covering over two hectares and the 2,400-square-meter apartment project PPI Tower which was planned to have 80 apartments and 8,000 square meters for office space.
Pham Duc Tan, chairman of PPI, said the two projects have had land sites cleared and investment procedures finished. However, due to difficulties of the property market and difficult access to capital sources, the firm is incapable of carrying out those projects on its own.
Therefore, PPI has called for investors who have financial capabilities and want to cooperate with PPI to develop the projects. Partners can choose suitable cooperation models, but the prior solution is to set up a joint venture, Tan said.
PPI has also registered to adjust the average area of apartments to 50-75 square meters with an average price of less than VND15 million per square meter so that the project can be more commercially viable. - Source: The Saigon Times Daily
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