Big-end-of-town villas go on sale in HCMC

The Saigon Times Daily

A new set of luxury villas for the fabulously rich went on sale in Ho Chi Minh City on Wednesday. The 43 villas, being built in Nha Be District are being offered up for sale by developer Phu Long Real Estate Corporation, for VND11 billion (U$643,000) each.

In a country where the average wage-earner takes home US$1,024 per year, it would take the majority of Vietnamese 628 years to purchase the French-themed villas.

Singaporean consultancy and township development company Surbana, is building the villas, which are part of the 24-hectare Kim Long Luxury Villas development near District 7, Saigon Times reported.

The project, due for completion next year, is one of the 14 developments being rolled out by Phu Long as part of its $1 billion Dragon City.

Dragon City, covering an area of 65 hectares, includes villa areas, apartment buildings, shopping and recreation centers, office towers as well as facilities for schools, clubs, and health care.

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