The Rivana nears completion to welcome foreign owners

By Thy An   August 1, 2023 | 06:00 pm PT
The Rivana apartment building in the southern Binh Duong Province is nearing completion and will be open to consumers in the fourth quarter of 2023.

Foreign organizations and individuals can own up to 306 apartments, accounting for 30% of the total apartments at The Rivana.

The Rivana building in Binh Duong Province. Photo courtesy of The Rivana

The Rivana building in Binh Duong Province. Photo courtesy of The Rivana

According to the Ministry of Construction, foreigners have been allowed to buy and own houses and apartments in Vietnam since 2018, but some difficulties remain. In the discussion on the draft Housing Law (amended) 2023, the Ministry of Construction reported on content further supporting foreigners in buying houses, aiming to attract more foreign direct investments (FDI) in Vietnam.

Up to now, there have been 3,035 foreign organizations and individuals buying and owning houses in Vietnam's big cities and provinces, such as Hanoi (1,765), HCMC (850), Bac Ninh (110), Binh Duong (210), and Ba Ria-Vung Tau (50).

Among these, Binh Duong Province is well-known for its proximity to HCMC, as well as its various industrial zones and foreign enterprises.

Social-economic statistics in the first half of 2023 showed that FDI in Binh Duong reached more than VND28 trillion with 37 new projects worth a total of US$343.4 million.

As of June 30, Binh Duong had attracted more than $40 billion in FDI with 4,115 projects, second after HCMC.

Currently, 65 nations and territories have registered to invest in Binh Duong. Among them, Taiwan, Japan, Singapore, Samoa, South Korea, the British Virgin Islands, China, Denmark, and the U.S. accounted for 84% of total FDI, more than $33.57 billion, in Binh Duong.

There are 28 industrial zones where many foreign experts are working. Infrastructure and utility services have been improved, and the housing supply has met high-end living standards.

The Rivana is on Binh Duong Highway. Photo courtesy of The Rivana

The Rivana is on Binh Duong Highway. Photo courtesy of The Rivana

The Rivana building, located on National Highway 13, Thuan An City, has a good price, a nice design, and a good location.

The project is five minutes from HCMC's Thu Duc City, passing Vinh Binh Bridge to go to Tan Son Nhat Airport, Mien Dong coach station, and downtown HCMC.

All of the apartments are designed by Ong & Ong to be able to receive sunlight and breeze. Three-quarters of them have river views, and the remainder overlook the inner area and corners of Binh Duong.

The price of The Rivana’s apartments starts at VND36 million (US$1,520) per square meter with no interest for 18 months. Its apartments cover an area of 46-100 square meters, including 1-3 bedrooms, and are well-equipped with interior items from Kohler, Siemens, and Mallorca.

Those living in The Rivana can enjoy 30 internal utilities such as an infinity pool, a light bridge, a relaxing garden, a coffee lounge, a gym, yoga, and indoor sports facilities. The utilities are arranged in separate areas, joining the utility system in the location where the project is located.

Currently, The Rivana is in the finishing phase. As of July, the project’s facade, internal utilities, and roads were about to be completed. The apartments are scheduled to be handed over to customers in the fourth quarter of 2023.

Those buying The Rivana apartments will not only be able to receive their units early and enjoy preferential policies, but they will also take a chance when regulations for foreign house ownership are relaxed.

Buyers also have a chance to win a Mercedes-Benz C180. Register for consulting and experiencing the project via the hotline at 081 906 8868.

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