Charm Engineering to build huge complex in Binh Duong

Jeon Yong Ho, marketing director of Charm Engineering Co., Ltd introduces the Charm Plaza property project seen in the background on Thursday - Photo: Quoc Hung HCMC – South Korea’s Charm Engineering on Thursday announced to choose Posco E&C as the contractor to build phase 1 of its Charm Plaza project as a mix-use property complex in the southern province of Binh Duong. The Charm Plaza project will be an apartment complex comprising of six 25-floor blocks with about 2,700 units plus supermarkets, said the company, which is more known as a manufacturer of LCD equipment and semi-conductors. The sprawling complex, covering five hectares at Song Than area in Di An District, will have total floor space of 363,000 square meters. This project is a big-scale one comparable to major urban development projects not only in Binh Duong Province but also in HCMC, said Jeon Yong Ho, marketing director of Charm Engineering Co., Ltd at a press meeting. The US$200-million project will set up model houses next month for introduction to customers, he said, adding sales marketing for the project would start soon. “We are planning to carry out marketing activities right from October 2010.” On the other hand, the company is also running a pre-sale campaign, and many people in surrounding areas of the project in Binh Duong have made phone calls asking for information about the project, he said. Apartments at Charm Plaza vary from 50 to 115 square meters in size, and the company plans to set up a reasonable selling price range from US$800 to US$1,000 per square meter. Ho added that by providing amenities such as swimming pools like the standard for resorts, Charm Plaza has created a difference from other apartments. In addition, when the second phase of this project is in place, Charm Plaza will attract supermarket operators to invest in Binh Duong. By choosing Posco E&C as the contractor, Charm Engineering is expecting to achieve positive results in selling apartments in the future, he said. The contractor Posco has established its reputation in Vietnam via building the Diamond Plaza in the center of HCMC. Starting its investment in Vietnam since 2007, Charm Engineering has seven real estate projects with combined investment capital of more than US$890 million. Ho said Charm Engineering would continue other projects including Toc Tien new town in Ba Ria-Vung Tau Province covering more than 183 hectares; a five-star resort hotel in Chi Linh area in Vung Tau City over 10.5 hectares; a serviced apartment building in Binh Thanh District, HCMC and another apartment project with 500 units in Thu Dau Mot Town, Binh Duong.