Sun Urban City opens sale of new product fund near mega parks – VnExpress Newspaper

On the afternoon of June 20, nearly 800 customers attended the event introducing the new product fund of the Park Residence apartment complex and the Kim Ngan subdivision at Ha Nam Gymnasium, Sun Urban City.

The event, themed The rhythm of life drawing a hundred flowers, combined art performances and project introduction activities. The Hand Tutting performance recreated images of the subdivisions, amenities, and living space at Sun Urban City before Park Residence and Kim Ngan were introduced to attendees.

The event attracted a large number of attendees. Photo: Anh Duong

At the seminar taking place during the event, representatives of Sun Group and partners updated the construction progress, utility operations as well as the plan to develop the residential community in the coming time.

Besides the completed categories, Sun Urban City continues to welcome many supporting factors. The Phu Thu intersection has been opened to traffic entirely, while facility 2 of Bach Mai Hospital is expected to operate stably from June 26. The park system in the urban area is also increasingly perfected. Recently, Sun Sports City Ninh Binh, a 22-hectare sports park, officially opened. Sun World Ha Nam Water Park also returned to welcome guests this summer, while the Festival Park maintains operations year-round, contributing to creating a vibrant pace of life.

According to a representative of Sun Property, the new product fund is located in the central positions of the mega-city. The Kim Ngan subdivision is adjacent to the Art Residence complex which already has residents living there, while Park Residence is located next to the Cultural Park, the fourth mega park expected to operate at the end of the year, opening up more living, entertainment, and experiential spaces for future residents.

Within the framework of the program, Sun Property announced the handover of Kim Tien townhouses and villas to owners, and at the same time awarded the certificate of land use rights and ownership of assets attached to land (red book) to Art Residence residents.

According to the business representative, since the beginning of the year, the unit has accelerated the handover progress of Kim Tien low-rise products and many apartments in Art Residence on the Festival Boulevard axis. Completing the legal procedures and putting the products into use contributes to forming an existing residential community at the project and strengthening the trust of customers and investors.

Sun Property awards red books to Art Residence residents. Photo: Anh Duong

From a market perspective, Mr. Dinh Minh Tuan, Sales Director of Batdongsan, said that the trend of population movement out of the inner city area of Hanoi is taking place clearly under the impact of urban planning, site clearance, and high housing prices.

According to Batdongsan data, in the past 5 years, the number of development projects along the ring roads around Hanoi has increased about 2.6 times, to nearly 700 projects. The process of expanding urban space also creates a new price level for many satellite markets.

Among the localities adjacent to the south of Hanoi, Ninh Binh is considered to have an advantage in traffic connection, and at the same time possesses an ecosystem of hospitals, universities, and industrial parks, creating a source of real housing demand as well as rental demand. Market data shows that the search volume for apartments in this locality has increased significantly in the last two years, coinciding with the implementation period of Sun Urban City.

Mr. Dinh Minh Tuan, Sales Director of Batdongsan, sharing at the event. Photo: Anh Duong

Experts say that large-scale urban areas with synchronous investments are contributing to enhancing the attractiveness of the satellite market. According to research data shared at the event, the apartment rental yield in Ninh Binh reached about 4.5 percent, while low-rise products reached about 2.6 percent. Specifically, the Art Residence complex recorded an average rental exploitation rate of about 4.3 percent after handover.

Besides, the wave of movement from the urban core area to new growth poles is forecast to continue to increase in the coming years in the context of Hanoi stepping up planning and restructuring development space. In parallel, real estate consumer behavior is also clearly differentiated. Batdongsan survey data shows that up to 64 percent of buyers prioritize choosing products serving the purpose of settlement or capable of generating immediate cash flow.

In addition to the trend of population expansion, in the future, suburban real estate may benefit further from the Staycation cash flow. Without needing to leave the city, a generation of young people is finding a more effective way to rest: less travel, more feelings. They have created a new tourism trend: Staycation – on-site tourism, the business representative noted.

Residents and tourists at Doi Tam drum square of Sun Urban City. Photo: Anh Duong

Anticipating the trends of satellite urban development, Sun Urban City aims at an integrated urban model with a system of parks, sports areas, entertainment spaces, and culinary services in the same complex, in order to meet the needs of settlement combined with rest and experience of residents.