Sai Gon’s property traders are soaking in the possibilities with an apartment project on Diamond Island.
Each apartment is expected to pull in over US $1 million. Rumours of the super-luxurious apartments have become a hot topic among property traders in HCMC. It would provide a unique location, design, quality and living atmosphere. The most expensive apartments are expected to go for about US $3 million per unit. The will be located on a drop water shaped island on the Sai Gon River. It is said that Hollywood super star Brad Pitt and Vietnamese singer Tuan Ngoc have visited the location and placed orders.
There are also rumours circulating about the “unique” regulations set by project developers that only selected customers can become habitants of this island. Reselling will be prohibited for two years. The project owner has bought a very expensive cruiser from England just to show their potential customers the project.
Diamond Island cruiser worth US$2 million bought from England. Its old name was Princess 58 Yacht. Photo: princess.co.uk.
The construction site is located at the crossing point between Sai Gon and Giong Ong To rivers, District 2. Its right side is facing the Yacht parking station Thu Thiem, a new center of Ho Chi Minh City in the future. Its left side is close to the Sai Gon river which is near Phu My Bridge connecting District 7 and 2. However, the path leading to the island is very special because it is surrounded by water.
There are some interesting things about its name as well. It is said that its location looks like a pearl at the mouth of a dragon. Some said that it looks like a triangle covered with a lot of green trees so it’s likely a sole green pearl on the Sai Gon River. That’s why it was named Diamond, a symbol of preciousness and permanence.
Diamond Island’s graphics. Photo: C.C.
Binh Thien An was the winner of the auction to possess the entire island and have rights to implement its construction.
The architect of this project is Arata Isozaki, a very famous Japanese designer. He won the second prize of the US$ one million competition to select the most state-of-the-art design and construction feasibility of Diamond island. His design was chosen because of its original idea.
Architect Arata Isozaki in the US$ onemillion competition to select the most state-of-the-art design and construction feasibility of the Diamond island. Photo: C.C.
Graphics of the project with beehive shaped apartments and an open space. Photo: C.C.
Trinh Thanh Huy, CEO of Binh Thien An Join Stock Company said that they have a customer database of over 10 thousand people who are excellent, successful and affordable. The price of their apartments is the most expensive in Vietnam as of 2009, but they still want to reserve 50 per cent of the units because they haven’t made any profit yet.
The project developer will sell over 50 hill villas and sky villas worth around US$1-3 million. Forty per cent of apartments worth US$1-2 million have already been sold. Huy forecasted that the price will go up 50-100 per cent in the next two years.
