Hyundai Hillstate is the first real estate project of South Korea’s Hyundai Group in Vietnam and also its first project overseas, said Seo Duk Yeol, sales manager of Hyundai RNC Ha Tay, a subsidiary of Hyundai Group.
Hyundai Hillstate introduces several policies to stimulate demand.
Homebuyers only need to make a down payment equivalent to 30% of an apartment’s value to receive the home and settle the rest within one year after signing the contract with no interest charged. The project owner this time also offers lower prices than in previous sale rounds in 2010 and 2011.
The first sale round took place in late 2010 with 200 apartments and 62 villas on offer sold out in just one day thanks to the then thriving property market. The second round was held in November 2011, when the market slowed down, leading to lukewarm response.
Hyundai Hillstate is located on To Hieu Street in Hanoi’s Ha Dong District, some 16 kilometers from Hoan Kiem Lake in the city’s center.
This high-end apartment and villa project got off the ground in 2009. It covers an area of 4.67 hectares and costs a total of US$200 million.
Hyundai Hillstate comprises two main zones: the apartment zone with five buildings supplying 928 flats and a commercial center, and the villa zone with 100 units.
The project lies near the Cat Linh-Ha Dong metro line scheduled for completion in 2015. The apartment zone of Hyundai Hillstate is connected to commercial infrastructure and public utilities of the new administrative area of Ha Dong District. It is located next to Metro Ha Dong Hypermarket and Lotte Ha Dong Cinema. - Source: The Saigon Times
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