Vietnam Town, a partially completed commercial condominium development project in San Jose, California, is SingHaiyi's second real estate venture into the USA market, with a 100% equity stake acquired in November 2013.
Strategically located in a mixed-use neighbourhood with convenient access to transportation networks, retail and commercial facilities, Vietnam Town consists of nine blocks with a parking structure and each condominium unit has an average size of 1,000 sq ft.
Out of the 256 planned condominium units, 115 units have been built, 64 of which have been sold. Our stake consists of 192 units, comprising 51 completed units and 141 uncompleted units, with 23 completed units sold as of May 2016.
|Location||San Jose, California|
|Acquisition Cost||US$33.1 million|
|Total Land Area (sq ft)||853,502|
|Gross Development Value||~US$105.6 million(3)|
|Expected Completion||~1H2017 (Phase One) /
2H2017 (Phase Two)