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Property
Development

United States

Vietnam Town

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.

Type Commercial Condominium
Location San Jose, California
Acquisition Cost US$33.1 million
SingHaiyi's Stake 100%
Tenure Freehold
Units (Number) 192(1)
Total Land Area (sq ft) 853,502
Sales Progress 45.1%(2)
Gross Development Value ~US$105.6 million(3)
Expected Completion ~1H2017 (Phase One) /
2H2017 (Phase Two)

(1) Excludes the 64 units that were previously sold.
(2) In relation to the 51 completed units as of May 2016.
(3) Relates to SingHaiyi's stake of 192 units comprising 51 completed units acquired units and uncompleted 141 units.
Vietnam Town
Vietnam Town

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