Banks promise loans to buy Phu My Hung apartments

Twelve commercial banks will provide loans for buying apartments in Phu My Hung Corporation\'s Riverside Residence Project in Ho Chi Minh City\'s District 7.

The banks, which include Eximbank, Indovina, Vietcombank, Mekong  Housing, Sacombank, Techcombank and ANZ, will lend up to 70 percent of  the apartment\'s cost of at least VND40 million (US$2,200) per square  meter.  The corporation said buyers can get the loans at 10-14.5 percent  interest for 20 years.
 
The developer invited 700 potential buyers last Sunday for the launch of two 25-floor blocks.

The $200-million Riverside Residence in Phu My Hung new urban area will  comprise a commercial center and five blocks with 426 apartments in  three phases. It was designed by Malaysian Arkitekooi Company.

The Taiwanese-invested corporation sold out all 258 units in the first  two phases in January and February at a minimum of VND35 million a  square meter.

Source: Thanhnien News