STDA to be official distributor of apartment and condotel project in central city.
The Ariyana Joint Stock Company authorized the Real Estate Project Supermarket System STDA as the exclusive agent selling apartments and condotels at the Ariyana Da Nang project in central Vietnam at a signing ceremony for a strategic cooperation agreement on June 16.
Construction of Ariyana Da Nang will begin this month and be completed in April 2018.
Ariyana is a member of Sovico Holdings, a multi-sector investment group of large scale and strong financial capacity active in more than ten countries and territories worldwide.
Sovico invests in a range of fields, such as banking (a joint venture with the Ho Chi Minh City Development Bank - HD Bank), in aviation (a co-founder of VietJet Air), in property, owning the five-star Furama Resort in Danang and an ecological tourism area on Phu Quoc Island, and a host of real estate projects in good locations operated by Ariyana.
With economic potential and strategic vision, Sovico continues to promote investments in resorts on beaches in Da Nang, Khanh Hoa, Cam Ranh and Phu Quoc. These are international projects and promise to provide customers with memorable experiences and unforgettable vacations.
The Real Estate Project Supermarket System STDA is the consultant and agent for many real estate projects in Vietnam. After successfully conquering central Vietnam’s property market with projects such as Sentosa Riverside and Sentosa City it continues to cooperate with Ariyana in delivering Ariyana Da Nang, one of most the outstanding condotel projects in the country.
Ariyana Da Nang is a chain of apartments and condotels constructed and managed by Ariyana and located inside the Furuma Resort and of international standard. Ariyana Da Nang therefore inherits all facilities at Furama Resort.
According to a recent report from CBRE, Vietnam’s condotel market is growing in popularity. There were 2,436 units from six projects launched in the first five months of this year, 89 per cent of which were in the high-end sector. Total supply from condotel projects increased to 3,084 units, of which high-end developments accounted for the largest proportion, of 76 per cent, followed by the mid-end (16 per cent) and the luxury segment (9 per cent).
As at March, Da Nang had more than 390 foreign direct investment (FDI) projects with total registered capital of $3.66 billion. Of these, 26 were real estate projects valued at $1.9 billion, accounting for around 54 per cent of investment capital.