Phu My Hung names Savills sole leasing agent for new property

The Phu My Hung Corporation Thursday announced its appointment of UK-based property consultant Savills as its sole leasing and management agent for The Crescent in District 7, Ho Chi Minh City.

The 150,000 square-meter development is expected to cost around US$200 million in the first phase, which will include the first serviced apartment building called Crescent 1. It will be completed in December 2009.

The $200-million second stage, to be finished by the end of 2010, will comprise Crescent 2 and 3, a shopping mall and office building.

In all, there will be 297 serviced apartments, 10,000 square meters of office space, 20,000 square meters of waterfront retail space, and a 60,000- square meter shopping mall.

Brett Ashton, managing director of Savills Vietnam, said: “The monthly rental prices at the Crescent would range from $25-80 per square meter for retail outlets and $1,800 a month for four-room serviced apartments.

“The prices for office rental will be available soon,” he said.

 Vinh Bao

thanhnien

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